[Funding alert] Edtech startup Edukemy raises $2M in pre-Series A round led by Auxano, Falcon5, others
Delhi-NCR-based test prep edtech startup Edukemy raised $2 million in pre–Series A round lead by Auxano, Falcon5, and other angel investors.
These funds will be used to further strengthen Edukemy's position by working towards building a test prep platform for multiple competitive examinations, as well as to build the team and scale the product.
Founded in 2020 by Chandrahas Panigrahi, Shabbir A Bashir, and Deb Tripathi, Edukemy created a one-of-a-kind evaluation model for non-subjective as well as subjective competitive exams.
Since December 2020, the startup claims to be gaining great traction with growth of 3x in the content view by the audience and doubled the engagement rates in classes by making the learning interactive and effective.
"Our subscriber revenue is growing rapidly, and we aim to reach one million paid learners by 2023, and plan to expand into additional verticals," said the startup.
Chandrahas Panigrahi, CEO and Co-founder, Edukemy, said,
“We are thrilled and humbled to welcome like-minded business partners as we grow together in our journey of becoming the best edtech company in the government competitive test preparation. Since our inception, our business and presence in the field have grown multifold. The company is working towards achieving an ARR of $3 million in revenue. This year, in the first quarter alone, Edukemy tripled its revenue base and crossed 10k+ paid learners and plans to scale 4x in the current year.”
Commenting on the investment, Manish Mehta, Managing Partner- Falcon 5, said,
“We were extremely impressed by Edukemy founders’ vision to disrupt the non-stem test prep sector through technological innovation. Their bold approach is exactly what is needed to provide learners with evaluation-driven pedagogy and personalised learning experiences, and we are excited to join them on their next mission to reach out millions of students achieve their dreams and success in life.”