[Funding alert] Questt raises Rs 9.6 Cr in seed round led by Chiratae Ventures, AET Fund
Edtech startup Questt announced that it has raised Rs 9.6 crore in a seed round led by Chiratae Ventures and . The round also saw the participation of marquee entrepreneurs such as Founders Kunal Bahl and Rohit Bansal, 91springboardFounder Pranay Gupta, Co-founder Ramakant Sharma, founders (through Marsshot Ventures), and First Cheque.
The funding will be used to help increase the platform's user base, add more features, and hire talent.
Questt Founders Akhil Singh, Mohsin, and Rohit Pande said in a joint statement released by the company: “All over the world, teachers invest a huge amount of time in creating and evaluating answer sheets. The output of this process is a score/grade for a student that has no real insights. These processes that do not factor in the advancements in tech that have happened over the last decade need to be reinvented."
The founders said the current system asks teachers and students to invest a huge amount of time without yielding significant output and this is what Questt is trying to solve. They explained that Questt is building an education data stack to empower teachers with deep insights that allow a more customised and effective learning experience.
Venkatesh Peddi, Partner at Chiratae Ventures, said: “Questt is targeting the multibillion-dollar edtech industry with its unique offering for students and teachers by introducing tech innovation to make learning and education more meaningful in the post-pandemic world... Akhil and the team have built a fabulous product with an easy-to-use interface allowing access to educators and learners pan-India. We are looking forward to seeing the team grow and achieve great things in the near future."
The etech startup said that during the pandemic, most teachers adopted WhatsApp to conduct homework. Once students uploaded photos of their answers, teachers would download each image separately, check the answers using photo editing software, and upload every student’s answer sheet back on WhatsApp. However, the process of assigning homework at Questt takes less than 10 seconds and over 80 percent of the questions are auto-evaluated on the app.
“AET Fund is committed to collaborating with businesses that tap into tech and multimedia to solve unique need gaps for the emerging mobile-first consumer behaviour in India," said Yuki Kawamura, Partner at AET Fund. "Our investment in Questt is one of the great examples of that. We are delighted to partner with the Questt team in their journey to make teachers’ and students’ life more productive and insight-driven.”
The homework is assessed and mapped on Questt with six parameters including cognitive abilities, concepts and skills.