Test preparation platform OnlineTyari which has seen over two million downloads and 300,000 active users, is close to raising $5 million in a Series A round from US-based funds by the end of August.
“We are in talks with an international fund in the education domain, which can give us better access to knowledge and other investors in our sector,” Vipin Agarwal, co-founder, OnlineTyari, told DealStreetAsia. The company had raised $0.75 million (about Rs 5 crore) in September from investors like venture capital firm 500 startups, Mohandas Pai, Tandem Capital, Vikram Chachra of Eight Capital and Aloke Bajpai, co-founder and chief executive of IxIgo.
Founded by IIT Kanpur graduates Vipin Agarwal and Bhola Ram Meena in 2014, OnlineTyari through its multilingual app and website, allows people to prepare for job-oriented tests including civil services, banking services, UPSC, GATE and state government jobs. The portal has tied up with coaching institutes, independent tutors and publishers across the country to provide authentic and contemporary material for exam preparation. Those appearing for competitive exams can also buy question banks, online tests, articles and e-books on the platform.
The startup offers its courses in English, Hindi and Marathi at present, and plans to expand the offering to 15 Indian languages on its app. “We are trying to organize the unbranded content experts and coaching centres,” Agarwal said.
According to various consultancies, the worth of test preparation sector is estimated to be anywhere between $5 billion and $20 billion. In May 2016, PaGaLGuY’s test preparation platform Prepathon raised pre-series A funding from Blume Ventures. In April this year, online test preparation platform Oliveboard secured an undisclosed amount of funding from India Educational Investment Fund (IEIF), an early stage impact investment fund established by Michael & Susan Dell Foundation. And in October last year, Toppr, a Mumbai-based startup offering an online platform for students to prepare for entrance tests examinations, had raised $2 million from venture debt provider InnoVen Capital.
“We are in talks with an international fund in the education domain, which can give us better access to knowledge and other investors in our sector,” Vipin Agarwal, co-founder, OnlineTyari, told DealStreetAsia. The company had raised $0.75 million (about Rs 5 crore) in September from investors like venture capital firm 500 startups, Mohandas Pai, Tandem Capital, Vikram Chachra of Eight Capital and Aloke Bajpai, co-founder and chief executive of IxIgo.
Founded by IIT Kanpur graduates Vipin Agarwal and Bhola Ram Meena in 2014, OnlineTyari through its multilingual app and website, allows people to prepare for job-oriented tests including civil services, banking services, UPSC, GATE and state government jobs. The portal has tied up with coaching institutes, independent tutors and publishers across the country to provide authentic and contemporary material for exam preparation. Those appearing for competitive exams can also buy question banks, online tests, articles and e-books on the platform.
The startup offers its courses in English, Hindi and Marathi at present, and plans to expand the offering to 15 Indian languages on its app. “We are trying to organize the unbranded content experts and coaching centres,” Agarwal said.
According to various consultancies, the worth of test preparation sector is estimated to be anywhere between $5 billion and $20 billion. In May 2016, PaGaLGuY’s test preparation platform Prepathon raised pre-series A funding from Blume Ventures. In April this year, online test preparation platform Oliveboard secured an undisclosed amount of funding from India Educational Investment Fund (IEIF), an early stage impact investment fund established by Michael & Susan Dell Foundation. And in October last year, Toppr, a Mumbai-based startup offering an online platform for students to prepare for entrance tests examinations, had raised $2 million from venture debt provider InnoVen Capital.
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