Test Prep Startup ToppersNotes Raises $1 Million In Seed Funding
ToppersNotes, a Test prep startup, has raised $1 million in a seed round led by Inflection Point Ventures with participation from LetsVenture, PlanB Capital, Pulkit Agrawal (CEO, Trell), Ashish Sharma (MD, Innoven capital) and other notable angels.
The startup plans to use the raised funds to acquire talent, boost technology, and expand its presence across multiple exams.
ToppersNotes | An Initiative By IIT Toppers
Founded by IIT Bombay alumni Ayush Agrawal, Arpit Bansal and Devendra Dhaka in 2015, ToppersNotes primarily provides students with curated sets of books compiled by toppers.
The edtech startup currently serves students in exams like IAS, IES, GATE, SSC, NEET, JEE, CBSE Board & state-level job exams, and many more to come in the future. Leveraging technology, ToppersNotes aims to make self-study more efficient and personalised while providing learning at 1/10th of a coaching institute fees.
Speaking on the development, Ayush Agrawal, Founder of Toppersnotes, said,
[Read: Factors Driving The Growth Of Edtech Industry In India]
“With personalised learning, guidance, and performance analytics features, we will disrupt the test prep space, where students, even today, rely heavily on textbooks, distant coaching, and local tutors. We intend to leverage technology and content to reduce the service layer present in the education industry, thus democratising education and making it affordable for everyone.”
Edtech India And Test Prep
Lately, the edtech sector has become one of the fastest-growing industries in recent times, with the sector receiving an investment of $ 2.1 billion in the calendar year 2020.
Among the edtech sector, the test prep segment has emerged as the fastest-growing category in online education. Every year, more than eight crore students prepare for more than 600 exams, with more than 60% of these students residing in small towns and facing affordability issues during their preparation.
As per the startup, the market is huge and fragmented, which the Test prep startup is trying to disrupt by creating a comprehensive and affordable solution. Toppersnotes is solving a real issue of unavailability of affordable solutions in tier II and tier III cities and below markets to emerge as a market leader in the test prep market segment.
With more than 300,000 registered aspirants primarily from tier III and below townships on its platform, ToppersNotes is currently active in 70+ exams like UPSC, NEET, IIT, GATE, SSC, BANK, and state-level government job exams.
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