Notesgen Technologies Pvt Ltd, an Ed-tech startup, has raised an additional Rs 1 crore ($148,000) in angel funding from GHV Accelerator and existing angel investors.
The Delhi-based startup was founded in September 2014 by Manak Gulati and Roman Khan. Notesgen is a peer-to-peer Ed-Tech solution provider. The platform connects students from around the world to other students who are looking for help regarding studies. The startup effectively supplements classroom teaching and professional coaching by giving access to notes to other students with similar backgrounds and help them learn concepts
Read More Notesgen currently has 550,000 users from 125 countries on its platform and claims to get 8,000 to 10,000 new users monthly. They claim to generate weekly payouts of Rs 200 to Rs 500 via Paytm and hopes to bring on board 10 more partners by the second quarter of 2017.
Notesgen is looking to raise series A funding from Q3 in mid-2017. The investors of Notesgen are GHV Accelerators and Riju Gupta. The first investment done in Notesgen was of $100 K angel funding by Riju Gupta in August 2016. The total equity funding of the startup is $247.54 K, which is a pretty hefty amount for an Ed-tech startup.
Last month, Ed-tech startup Byju’s acquired Bangalore-based learning guidance tool and student profile-builder Vidyartha for an undisclosed amount. In December 2016, the firm raised $15 million from International Finance Corporation (IFC), the World Bank’s private-sector investment arm.
A 2016 report by management consulting firm Technopak said that the Indian education market is expected to double by almost $180 billion within 2020, buoyed by the rapid expansion of the digital learning market and the country’s population. Read more News.