Software-as-a-service (SaaS) startup TestnTrack, said on Tuesday that it has raised an undisclosed amount in a pre-seed funding round from startup accelerator EvolveX.
The Jaipur-based startup plans to use the funding to develop its platform’s technology stack and expand its geographical presence across 25 cities in India such as Kota, Ahmedabad, Delhi, Mumbai, Pune, Lucknow, Indore, amongst others.
Founded by Vinay Kamal Sharma, Priya Soni and Ritwik Joshi in 2022, TestnTrack is an artificial intelligence (AI)--based platform that automates hand-written assessments. Using AI, teachers scan and upload students' answer sheets for real-time processing.
The startup also plans on improving its AI learning assistance, Nivaa, and the AI-power audio feedback application programming interface (API) for edtech companies.
It claims to have onboarded over 112 institutions across 6 cities and is targeting a revenue of Rs 1.8 crore in FY24.
“TestnTrack’s platform allows teachers to deliver gap analysis reports, offering students personalized insights into their individual learning gaps and strengths. Furthermore, TestnTrack’s platform extends beyond the classroom by providing parents with data-driven insights into their child’s academic journey,” said Bhawna Bhatnagar, co-founder, EvolveX.
EvolveX is a startup accelerator program operated by early-stage investor We Founder Circle (WFC). Through the program, it invests Rs 25 lakh for a 5% stake in a selected company.
Last week, We Founder Circle raised $10 million in commitments for its Gift City Fund, known as the We Founder Circle Global Angels Fund.
Additionally, the Mumbai-based early-stage investor also onboarded 250 investors for the We Founder Circle Global Angels Fund, launched last year.
