EduKart raises $0.5 million from early stage institutional and angel investors

By Team YS|31st May 2013
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Delhi based Edukart, one of India's early and leading online education companies, has raised $0.5 million to focus on the Indian online education market. The amount has been raised from a group of early stage institutional and angel investors. EduKart is co-founded by Stanford alumnus Ishan Gupta and IIM alumnus Mayank Gupta. EduKart has raised seed round in the past as well.

The current round includes investments from Kima Ventures, Amit Patni and Arihant Patni (Patni family), AKM Systems (Shiven Malhotra), Vibhor Mehra (ex Partner of SAIF Partners) and alumni from Stanford University. Among those who participated again from earlier seed round include angels like Vijay Shekhar Sharma (Founder, One97 Communications) and Manish Kheterpal (ex Director of Providence Capital).

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Ishan said “We are glad to welcome very impressive investors in the current round. In just 2 years, EduKart has gone onto become one of the go-to destinations for online education in India. The capital raised will be deployed to accelerate our growth, launch new courses in partnership with Indian and International institutions and strengthen our franchisee network".

"EduKart team is working hard to deliver education to students and working professionals around the country. Our online sales model, coupled with our strong 40+ reseller network, make us a very strong player in the space. We are fortunate to have a very strong team in place that is dedicated to the cause of promoting online education in India", said Mayank Gupta, COO, EduKart.com

Jeremie Berrebi, Co-Founder and Partner at Kima Ventures, who led the current round, added “Online education is exploding across the world. We believe that India and other emerging economies have massive scope for leveraging online education to delivering high quality education to the large young demographics available in the countries. We are sure EduKart will continue to grow to become a larger and more important player in the space going ahead."

EduKart is also backed by a strong advisory board consisting of Anand Sudarshan (ex MD and CEO of Manipal Education), Prof. MJ Xavier (Director, IIM Ranchi), Prof. SS Pabla (former Vice Chancellor of Sikkim Manipal University), and Prof. Pankaj Gupta (Professor from Indian Institute of Management Kozikode).

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