Update: OnlineTyari now informs us that it has raised only $750,000 in funding, not the $5M it had initially informed us about. Earlier: OnlineTyari, on online test preparation platform, has raised $5 million in funding from investors including 500 Startups, Mohandas Pai, Tandem Capital, Vikram Chachra and Aloke Bajpai, co-founder & CEO of Ixigo. The startup will use the funds for expansion and strengthening its technology. OnlineTyari has a multilingual (Hindi and English) app and website which lets people prepare for civil services, banking, UPSC, GATE and state government job tests. Users can buy question banks, online tests, articles and e-books and collate notes for preparing for the exams. For this, it has tie ups with test prep companies and organisations like Chronicle IAS Academy, Jagran Josh, U Can, Arihant, Soni Classes and Mock Bank among others. It also has an ‘Ask and Answer’ section, which is like a forum where students can ask and answer questions, segregated by categories. Its store can be accessed here. The company claims to have a daily active user base of over 200,000 in India, along with 2 million app downloads. It has plans to add more languages in the future. It also claims that that the platform has been optimised for use on low end smartphones. The Gurgaon based company was founded by Vipin Agarwal and Bhola Ram Meena last year. Developments in the online education sector this year: - In July, CultureAlley, a language learning platform, raised $6.15 million in a series A…
