The edtech startup, EduGorilla (1), based in Lucknow, announced that it had secured 5.3 crore INR or 726,000 USD in its latest fundraise. SEBI, Cat 1 Angel Fund, Auxano Entrepreneur Fund participated in the fundraising. Alongside, a cohort of angels from Venture Garage, Pune Angels, SucSEED Venture Partners, VC Angels, and Hem Angels also led the funding.
EduGorilla offers online test series of over 3000 competitive exams in over nine languages. The startup will use the latest infusions to increase its marketing campaigns and sales functions.
Rohit Manglik, the Founder, and CEO of EduGorilla, while commenting on the fresh tranche, stated that it would strengthen their aim to become a formidable pillar to their students.
EduGorilla to Offer Students Top-notch Content and Cutting-edge Technology
The startup aims to provide them with their Top-notch Content and Cutting-edge Technology. He added that the team would use the fundings to increase their marketing and sales to cater to the newly spiked users.
Rohit further stated that more than 7.5 crore people apply for state-level competitive exams in India every year. It has created a new opportunity for EduGorilla. Over 93% of our target audience belongs to rural India and does not know English.
The startup has created an AI-power demand and prediction algorithm. It would analyze the operational profitability of several competitive examinations. Presently, EduGorilla has its market in Lucknow, Delhi, Indore, Jaipur, and Ahmedabad.
According to the company’s statement, EduGorilla is aiming for six to seven lakh daily users. Notably, the platform caters to over 70,000 users daily. The firm is also seeking to develop content for more than 3000 competitive examinations in nine languages.
EduGorilla claims that it has observed a 100% spike in sales due to an increased digital learning trend in the COVID-19 lockdown.
The leadership team of the Auxano Entrepreneur Fund stated that EduGorilla is all set to tap into the competitive exam space with its digital approach and product knowledge. The firm will get the market leader position with its expertise in the local languages.
Author: Rucha Joshi
Source : https://timesnext.com/edugorilla-secures-5-3-crore-funding/
Date : 2020-10-01T10:44:17.000Z