Bengaluru-based ed-tech startup Edvizo has raised $1 million (Rs 7.49 crore) in a pre-Series A funding round led by Inflection Point Ventures, the company said in a statement.
The funds raised will be used to enhance the technology stack, acquire more users, strengthen the tech and sales teams and expand to more cities.
The statement said the company has tie-ups with 2,950 institutes, has over 57,500 enrolments, and over 120,000 registered users on its platform.
“Education is a serious business. Every year parents spend millions of dollars to find excellent schools, coaching institutes, and counselors for their children. Students too continuously look for guidance and support, either within their network or from seniors. Edvizo has successfully organized a big chunk of this grind by bringing in a systematic and marketplace approach for selecting the best institutes. This is our second round of investment in Edvizo as we are excited to see the scale they have achieved in the last year and want to back them for their growth plans,” said Vinay Bansal, founder, and chief executive officer of Inflection Point Ventures.
Edvizo aims to re-invent India’s educational institutions by helping students and parents find, compare, and enroll in the best and trusted private institutes in their locality and at the same time helping institutes to find the best students through standardized testing. It claims that more than 80,000 students have already participated in this exam.
“The current fundraise comes at a crucial point in our journey as we are seeing significant traction — both on the students and course providers’ side. The funds raised will help us grow our capabilities both from tech and business perspectives and enable us to scale exponentially. We are fortunate to have such ambitious and visionary investors on board with us,” said Ravi Nishant, founder, and chief executive officer of Edvizo.