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EduKart raises $1 million from United Finsec, YouWeCan, 500 Startups & others


E-learning marketplace EduKart has raised $1 million from Holostik Group’s United Finsec (family office arm), YouWeCan and 500 Startups. Other than this, existing investors Vijay Sharma, Manish Kheterpal, Arihant Patni, Amit Patni and Stanford Business School’s alumni angels also participated in the round. The startup will use the funds for upgrading its marketplace platform, increasing the number of courses and marketing efforts.

Note that EduKart had raised $500,000 from angel and institutional investors including Kima Ventures, AKM Systems, Vibhor Mehra, Amit Patni and Arihant Patni, and an undisclosed Stanford alumni, in March 2013. Prior to this, the company had also raised $500,000 from Vijay Shekhar Sharma and Manish Kheterpal.

As of now EduKart offers paid online educational courses including postgraduate programs, international programs, programming languages, skills developments, certification courses and postgraduate diplomas. The cost of the course depends on the course provider and subject of the course. Users can search for courses on the websites based on type such as diploma or degree, by institution, by specialization, by study categories of ‘books’, online’ etc, by exam type or by fee. Users only need to enter their email address to purchase a course, which can then be paid for by direct bank transfer or Paytm.

Founded in 2011 by Ishan Gupta and Mayank Gupta, the platform claims to partner with over 90 course provides to provide over 2,000 courses, including providers like Aakash, Jamboree, Toppr, Indian School of Business, Bharati Vidyapeeth University, Vskills, Digital Vidya and Knowledge Woods. The company had also partnered with the London School of Business & Finance to launch a Postgraduate professional development program in various fields in 2013, as well as partnered with Meghalaya’s Mahatma Gandhi University (MGU) to launch an online MBA course and other postgraduate and undergraduate degree and diploma courses back in 2012.

Developments in online education:

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– Earlier in March, Mumbai-based e-learning startup Embibe.com acquired the student guidance platform 100Marks in a cash plus stock deal. Post acquisition, 100Marks and its team was merged into Embibe.

– 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.

– 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.

– 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.

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