Inflection Point Venture, Mukesh Sharma Family Trust, Keiretsu Forum, SAN Angles, Mumbai Angels, and Keyur Joshi (co-founder of MakeMyTrip), among others, have helped the platform for online education ixamBee raise Rs 11 crore in its pre-Series A round.
An additional Rs 3 crore secondary transaction was included in the funding round.
According to ixamBee, the money will be invested in content creation, marketing, and technology in addition to expanding the number of learning programs.
The flagship product of ixamBee, which was founded by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh, enables students to practice for hiring exams at PSUs like the SSC, RBI, SEBI, NABARD, public sector banks, insurance companies, and SEBI, among others.
The platform uses a freemium business model and provides free practice exams for more than 100 exams. With 1.9 million students registered on the platform, ixamBee claims to have reached over 12 million students at this time. The ixamBee Learning Experience (iLX) combines a wide selection of study guides, mock exams, and interactive learning tools.
Students who prefer a more conventional learning style can also take advantage of ixamBee’s classroom coaching and test series programs. These courses are offered in a few cities across India and are taught by knowledgeable professors.
ixamBee had previously received $300K in seed funding from the Jain International Trade Organisation (JITO) Angel Network and Mumbai Angels in April 2021, as well as an undisclosed sum in a debt round from Caspian Debt in January 2022.