Genext Students Pvt. Ltd, which runs an eponymous tutoring platform combining online, mobile and physical modes, has raised $580,000 (about Rs 3.75 crore) in pre-Series A funding from undisclosed investors, a company statement said.
The startup will use the funds to ramp up the team, upgrade technology and expand to new cities such as Bangalore, Lucknow, Jaipur, Hyderabad and Chennai.
Founded in 2013 by cousin-duo Ali Asgar Kagzi and Asad Daud, the hybrid platform connects parents with home tutors for their children. It claims to have more than 4,000 ‘tutorpreneurs’, 75% month-on-month repeat customers and over 1 million users of digital study content.
The platform enables personalised learning for students and provides real-time updates on their progress. Its courses cover curricula of national, international and state-level boards. The ed-tech company has also launched content for Hindi medium students.
Genext Students claims to have completed over 20,000 tutoring sessions in the last year across Pune and Mumbai.
Talking about the company's growth, Kagzi said, “In FY17, we have been able to register over 1,000% growth with our optimum blend of offline and online personalised learning services.â€
A bunch of ed-tech startups have raised funding recently. Last month, Mumbai-based Haygot Education Pvt. Ltd, which runs Toppr, raised Rs 2.16 crore (around $336,000) in a bridge round.
In March, Jaipur-based Nactus India Services Pvt. Ltd raised an undisclosed amount from a group of angel investors.
In the same month, Byju’s, currently the top-funded Indian ed-tech startup with nearly $170 million till date, raised an undisclosed amount from Belgian family office Verlinvest.
Bangalore-based Cuemath, another significantly funded player in the space, has raised close to $20 million to date. In January, it raised $15 million (nearly Rs 102 crore then) in Series B funding from CapitalG (formerly known as Google Capital) and existing investor Sequoia India.