Mumbai-based online test preparation service Toppr has raised Rs 45 crore in its second round of Series B funding, led by its existing investors SAIF Partners, Helion Ventures and FIL Capital Management. The company will use the capital to expand the geographical footprint and accelerate user acquisition. Zishaan Hayath, CEO & Founder, Toppr said in a statement that the company expects this capital to take the company to full profitability. The company is also looking to reach out to students across the country and open centres in 30 cities by December 2017 and is aiming USD 500 million in revenue by 2021. Toppr was founded by 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 startup claims to have about 2 million registered users, and over 1 million app downloads. The startup said in a statement that the platform has a…
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