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Toppr raises $10 million in funding from Fidelity, SAIF and Helion

toppr

Mumbai-based online test preparation service Toppr has raised $10 million in a round of funding led by Fidelity Growth Partners India, SAIF Partners and Helion Ventures. The platform will use the funding for expanding its product, investing in technology and including new content, in addition to catering to 5th to 12th standard students in the next 2 years.

Note that, Toppr had previously raised $2 million from Helion Venture Partners and SAIF Partners in May last year, and had raised an undisclosed amount of investment from angel investor Abhishek Jain and former FutureBazaar president & Chaupaati Bazaar founder Kashyap Deorah in 2013.

Toppr was founded by Zishaan Hayath and Hemanth Goteti in April 2013. It offers test prep for various entrance exams for students in VIII, IX and X classes intending to take up the science stream. Toppr also provides insights through analysis of academic areas which helps students decide which practice and tests to take. It claims to offer a rank on the basis of their current performances and help to improve their rank through the platform.

It provides test and practice packages for engineering entrance exams like IIT JEE (Mains and advanced) & BITSAT, medical entrance exams like NEET, AIIMS, AIPMT and AFMC among others and foundation competitive exams across various boards like CBSE, ICSE and other state boards (NTSE, NSTSE, IPM and MTSE among others).

The platform offers these services through various packages that start at Rs 900 for 3 test packages ranging up to Rs 6,999 for full packages. It also offers a free trial program and accepts credit cards, debit cards and net banking payments. Toppr claims to provide 100% money back guarantee if customers cancel within 14 days of purchase, post which no refund will be offered. The service is available on the web and Android.

EasyPrep acquisition: Toppr had acquired JEE prep test-taking platform EasyPrep for an undisclosed sum just last month. EasyPrep lets coaching institutes, schools, teachers and students access the platform on which customised exam papers can be created for teaching, assessment and competitive exams both online and offline. Like Toppr, EasyPrep says that this helps the teachers to analyse academically weak areas of students, which would help them in recommendations, resources and further practice. Students’ questions would also be answered by subject experts.

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Competition:

– Online education platform Embibe which offers a similar test preparation service, had raised $4 million from Kalaari Capital and Lightbox Ventures in May last year. The platform also recently acquired 100marks, a student guidance platform, in a cash plus stock deal in March.

– In February, Meritnation.com had stated plans to launch six new offline digital learning centres, starting with Chandigarh and Lucknow. The platform, which had raised Rs 10 crore investment from Info Edge (India) in December 2013, targets school students (Class 1-12) across various educational boards like CBSE and ICSE among others in India.

– School educational services start-up Zaya Learning Labs had raised an undisclosed amount of investment from Pearson Affordable Learning Fund (PALF) in May last year. Founded in 2010, the company provides a learning model which allows students to learn in three different modes: digital content on tablets for individual learning, group learning with a teacher and peer-to-peer group learning.

– In October, Bangalore-based online-offline higher education services provider iNurture Education Solutions had raised Rs 30 crore investment from Bertelsmann India Investments (BII). Setup in 2004, iNurture partners various colleges & universities to offer industry relevant diploma, undergraduate, post graduate, integrated and vocational training courses across various sectors like Information Technology, animation etc.

– Other players in this field include Vishal Gondal-backed Examify, which uses algorithms and crowdsourcing to generate intelligence around various examinations, allowing students to filter out important topics and questions and Times Internet-backed mobile education marketplace GradeStack which offers dedicated apps for IIT JEE preparation and CAT exam preparation.

Image source: Toppr

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