Kota-based Ed-Tech Startup Eduncle, which is a Holistic Learning Platform for Higher Education, is raising USD 500K in its Pre-Series A round led by ah! Ventures with participation of 3 more Angel platforms and KareKeBa Ventures. Eduncle further plans to raise an additional USD 250K in current round with more venture partners’ joining soon. This is ah! Ventures’ 92nd investment (in 73 Startups) taking its total investment portfolio to INR 237 CR (~31 MN USD) with 11 exits and 18 follow on rounds till date. With 29 investments in 2021 till date ah! Ventures plans to do 40+ investments this year totalling to INR 150+ CR (~20MN USD).
"The funding round will help us achieve our expansion objectives. We will use the funds to develop new products for additional exams, start live classes, and significantly improve our technology. We plan to further enhance Eduncle’s doubt solving capabilities with Artificial intelligence and machine learning.", said Mr. Arpit Pareek, Co-Founder & COO at Eduncle
The company had raised seed funding of USD 150K from Angel Investors – Mr. Supreet Vijay and Mr. Ankit Vijay in 2019. Eduncle has already witnessed more than 7.3 Crore visitors with 33 Lac+ registered learners. They have also seen a significant increase in its student base, paid subscribers, successful students, and revenues.
They have achieved more than INR 27 Cr. revenues and 45,000+ paid subscribers since inception. Eduncle has 200+ students in the top 100 AIRs – higher than any other institute and 4000+ selections in various examinations, with a selection ratio of 13%, which is more than double the Selection Ratio compared to the overall exam results.
In 2016, Dr. Amit Pareek, Founder & CEO, Eduncle, started with a small team of 5 people and a mission to empower students with the power of knowledge & build their concepts so that they can lead in their exams, career, and lives. And going ahead on this journey for providing barrier-free education, Eduncle is now an ever-growing organization with close to 150 employees, 65 top faculties, and more than 500 tutors working diligently 24*7 to accomplish this mission.
Commenting on the product, Harshit Goyal, Co-Founder & Head of Products, Eduncle, said, "The Holistic learning Platform of Eduncle is one of a kind in the league of Ed-Tech Apps. It’s not just unique but highly scalable as well. Our learning platform provides end-to-end test preparation for higher education with benefits such as - Live Classes, Video Lectures, Printed material, E-Learning, Automated Doubt Solutions, and Test Series combined with personalized 1on1 Mentorship sessions."
"Eduncle has a promising team- a medical grad and 3 IIT/ IIT-IIM grads, and a business model which is proven through sizable current traction. The scalability potential is quite significant due to the blue ocean in the higher studies market. While the K-12 market looks crowded, there are very few players in the higher studies (after graduation) market. Eduncle has already acquired 10% market share of the three exams it is currently present in and is looking to replicate the same model in other similar exams.", added Anubha Prasad, Founder - Karekeba Ventures & Venture Partner - ah! Ventures. Karekeba Ventures is a ‘Bharat’ focused Angel platform and a Venture Partner with ah! Ventures which has joined this round.
Eduncle is India's Leading Online Learning Platform for Higher Education and works with the vision of providing Holistic Learning to every college student. Eduncle is No.1 in terms of traction for IIT JAM, UGC-NET, and CSIR-NET. They have achieved 4000+ selections in NET and JAM exams with many top Ranks like AIR 2, 3, 4, 5, 6, 7, 9, 10. The trust and support of over 3 million registered students, who use services like quality content, continuous doubt solution, and mentorship at Eduncle, make them feel proud and ever-growing as a platform