[Funding alert] Competitive exam prep startup FlashPrep raises $500K led by Venture Highway
FlashPrep, a Bengaluru-based exam preparation companion that allows aspirants to study, practise and self-evaluate by taking tests and challenges on their study material, has raised $500,000 in a pre-seed round led by Venture Highway.
The funding round also witnessed additional participation from Better Capital, First Cheque, and a few angel investors. The startup plans to use the fresh funds to strengthen and amplify the company's user base and expand product offerings.
Dhiresh Nagwani, Co-founder and CEO at FlashPrep, said,
“Competitive exam prep is a productivity problem which leans the preparation more towards strategy and efficiency. At FlashPrep, we believe in building a companion app for subject mastery and providing accessibility to quality content for aspirants across tiers. The funding will help us to further take this ambition to new heights, diversify our product offering, and strengthen our user base.”
Launched in April 2021, FlashPrep is a collection of study tools which enable students to practise, identify weaknesses, benchmark, and master subjects they are studying, leading to better learning outcomes.
The platform, co-founded by Dhiresh Nagwani (CEO) and Ashwini Dhekane (CTO), both IIT Kanpur alumni, enables learners to make quantifiable progress during their test preparation journey in short (5-15 minutes) study sessions on the go.
“Achieving mastery is an important milestone in all learning endeavors but so far there has been no technology that made it easy for users to keep track of what they know well, what they need more practise on, how their progress is improving, and more. That’s exactly what FlashPrep is, a practise AI and mastery app for learners,” said Vaibhav Domkundwar of Better Capital, an early investor in fast growing edtech companies like Teachmint, Skill Lync, Filo, Stoa School, Udayy and others.
Priya Mohan, Investor at Venture Highway, said: “As a parent, I understand the power of consistent practise alongside studying for good results! Flashprep’s testing formats, combined with some highly contextualised student-centric features, solves a real pain point and their early customer love is evidence to that!”
Post establishment in October 2020, FlashPrep launched the first version of the platform on Android and iOS in April 2021, and has tracked 30,000 downloads as on date. The app claims to have become a sleeper hit among NEET and UPSC aspirants, and has grown to over 15,000 monthly active users.