Eduncle, a Kota-based online learning platform, has raised $750,000 (Rs 5.54 crore) in a funding round to meet its expansion goals, develop new products for additional exams, begin live classes, and strengthen its tech infrastructure.
The round was led by Mumbai Angels Network, ah! Ventures, KareKaBa Ventures, and others. Eduncle intends to use this funding to improve its doubt-resolving capabilities by incorporating artificial intelligence and machine learning.
Eduncle, founded in 2016 by Arpit Pareek and Amit Pareek, has created an online learning platform that provides end-to-end test preparation and guidance for higher education exams — IIT JAM, CSIR NET, and UGC NET — with a variety of features such as live classes, video lectures, printed material, automated doubt solutions, and test series, as well as personalised one-on-one mentorship sessions.
According to Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels Network, the platform has seen a twofold increase in its student base, paid subscribers, and revenue in the last year while remaining extremely capital efficient. “In recent years, Eduncle’s offerings have grown in breadth, making high-quality education available to all.” “We believe that the new capital will enable them to achieve their objectives and scale new heights,” Nandini adds.
Speaking on the development, Arpit Pareek, Co-Founder & COO of Eduncle said: “Eduncle was founded with the aim of providing easier access to quality learning for every aspirant in India. Our holistic approach to learning solutions makes Eduncle a one-of-a-kind platform in the league of Ed-tech apps, and it is highly scalable as well.”
“As an investor, it’s exciting for me to be a part of Eduncle’s business and onward journey, as they use the funds to upscale high-quality education and learning solutions across the whole country and also globally by providing online solutions for higher education, creating the exponential growth in times to come,” said Ankur Bansal, Co-Lead Investor for Eduncle.
According to the statement, the online learning platform currently has close to 150 employees, 75 top faculties, and more than 500 tutors working tirelessly to achieve the organization’s mission.
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