Assessment, test design, and feedback solutions provider for K-12 schools Xamcheck has raised $1.8 million from Aspada Investment Company. The Secunderabad-based company plans to utilize the funds to invest in its back-end technology and also to expand to other K-12 schools in India, especially the state-board schools segment.
Founded by Naveen Mandava and Varun Kumar, Xamcheck offers assessment of question papers and answer booklets for all subjects, tailored to each student’s level of understanding. The company also provides a report of the student’s performance and gives personalised homework and worksheets to be completed by the student. The company claims to have conducted over 500,000 student assessments over the last three years.
Other Aspada investments: Soros Economic Development Fund-backed Aspada Investment had invested $2 million in small business loan provider Capital Float, in July this year. It has so far invested in sectors such as agriculture supply chain and logistics, financial services, education and healthcare. Last month, Aspada also invested $2 million in New Delhi-based Allfresh Supply Management, which operates across the fresh fruits value chain.