Existing investors Info Edge and Asha Impact joined the investment round along with a new investor Google.
With the additional funding, Adda247 intends to raise the prominence of its technology and products, grow its staff of student counsellors, and fill several crucial leadership positions.
In order to expand its products in the area of government job preparation, the edtech platform will also look at a few strategic acquisitions in the coming months.
A $35 million funding round led by WestBridge Capital has been completed for the online exam preparation website Adda247. Google participated in the investment round as a new investor as well as previous backers Info Edge and Asha Impact.
The edtech platform intends to utilize the additional funding to raise the prominence of its products and technology, grow its staff of student counsellors, and fill some important leadership positions. According to a statement from the firm, the objective is to expand into the realm of language exam preparation.
After announcing that it will invest INR 80 Cr (about $9.7 Mn) in Adda247, Info Edge made the announcement a few weeks later. The investment appears to come from the most recent round.
A total of $20 million had been raised for Adda247 up to this point.
Anil Nagar and Saurabh Bansal founded Adda247 in 2016 to meet the educational requirements of millions of students from Tier-2 and Tier-3 Indian cities. Adda247 offers online tutoring for government employment entrance examinations. For more than 500 government examinations, the edtech portal provides information in more than 12 regional languages, including English, Hindi, Tamil, Telugu, Marathi, Assamese, Bengali, Malayalam, and Bhojpuri.
Sandeep Singhal of WestBridge Capital expressed the company’s confidence in the startup by stating that Adda247 is one of the “few profitable edtech startups in India” to develop at such a quick rate.
Speaking about the latest investment, Kitty Agarwal, Partner at Info Edge Ventures, said, “Adda247 is one of the very few scaled-up tech companies which is profitable and growing very fast. We are confident of the team’s ability to accelerate growth from hereon in their massive category.”
