The funds will be utilised to enhance technology stack, acquire more users, strengthening the tech and sales team, expansion
Edtech startup Edvizo has raised $1 million in a Pre-Series A led by angel investment platform Inflection Point Ventures. The Bengaluru-based platform will utilise the funds to enhance the technology stack, acquire more users, strengthen the tech and sales team and expand in more cities. Every year parents spend millions of dollars to find excellent schools, coaching institutes and counsellors for their children, Vinay Bansal, founder and CEO, Inflection Point Ventures, said. Students too continuously look for guidance and support, either within their network or seniors, he added.
“Edvizo has successfully organised a big chunk of this grind by bringing in a systematic and a marketplace approach for selecting the best institutes. This is our second round of investment in Edvizo,” Bansal stated.
While students face challenges in getting complete and accurate information about any coaching institute in today’s misleading branding and advertising era, Edvizo aspires to re-invent India’s educational institutions. The platform aims to help students and parents find, compare and enrol in the best and trusted private institutes in their locality.
On the other hand, it also wants to assist institutes to find the best students through their standardized testing ‘NLCEE – One Nation, One Exam’ model. More than 80,000 students have already participated in this exam, the platform said in a statement. In January 2021, over 1.5 lakh students from more than 280 cities registered for the test, to secure the total scholarship prize of Rs 5 crore, it elaborated.
To properly verify data of all coaching institutes before bringing them on the platform, Edvizo staff make personal visits to the institute with all checks and balances before it goes up on the platform. Additionally, the data is updated every three months, bringing additional options for the users to choose from.
Edvizo has tie-ups with 2,950 institutes, over 57,500 enrolments and more than 1,20,000 registered users on their platform. “The current fundraise comes at a crucial point in our journey as we are seeing significant traction – both on the students and courses’ providers’ side. The funds raised will help us grow our capabilities both from tech and business perspective and also enable us to scale exponentially. We are fortunate to have such ambitious, visionary investors on board with us,” Ravi Nishant, founder and CEO, Edvizo said.
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