Meritnation raises Rs. 25 cr from Info Edge taking their total tally to Rs. 96.5 cr
Meritnation.com, an online education company in K-12, announced a fresh funding round of Rs. 25 crore from Info Edge (India) Limited. The company which was started in 2007, claims to have 90 lakh students from CBSE, ICSE and other leading boards across India and the Gulf on its online platform and has now raised close to Rs 96.5 crore across various funding rounds from Info Edge.
Speaking about the development Pavan Chauhan, Founder and CEO Meritnation.com, said,
These funds will be used to ramp up the technology behind the smart learning engine which powers 'Meritnation Live'. We will also make significant investments in hiring IITian teachers and expanding our broadcasting studios. With this platform we want to bring the most personalised learning experience to every student, delivered right to their homes.
Meritnation launched their 'Live' offering in October 2014 and has seen success with thousands of students enrolling into the new platform. This comes on the back of a slew of launches from the company, including four offline centres in Chandigarh and Jaipur, a franchise model for the centres, new mobile apps, including Homework Help for Singapore and Meritnation Plus - for the Gulf markets.
'Meritnation Live' offers online classes for students from classes 6-12 and also has special offerings for entrance exams like JEE, AIPMT etc. The platform tracks every student's progress and displays personalised recommendations. It offers reports with analytical data to point out strength and improvements areas, offering a virtual one-on-one learning experience.
Besides foodtech and logistic segments, online test preparation platforms have been drawing the attention of the venture capital industry. The online test prep industry is valued at $8 billion in India and over $80 billion globally. The education sector has seen a lot of activity in the recent past with Plancess, Toppr, and kleverkid raising funding.
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