Tuesday, November 29, 2022
Outlook.com
Outlook India
Outlook Business
+

Adda247 Raises $34 Million From West Bridge Capital

The firm plans to use the capital to expand its vernacular courses and hiring new faculty members

Adda247 Raises $34 Million From West Bridge Capital
Anil Nagar, co-founder and chief executive officer, Adda247
POSTED ON October 14, 2022 3:49 PM

Adda247, a government test preparation platform, has raised $34 million in a funding round led by West Bridge Capital. Besides the firm’s existing investors Asha Impact and Info Edge, Google also participated in the funding round as a new investor. 

With this new infusion of capital, the fund will expand the student counseling team and bolster its tech and product profile, The Hindu BusinessLine reported. 

Founded by Saurabh Bansal and Anil Nagar in 2016, Adda247 caters to students from tier 2 and 3 cities. It provides live video classes, on-demand video courses, mock tests, and books focused on government exams. 

The platform claims to have 2.2 crores monthly and 20 lakhs paid users. It offers courses for over 500 government examinations in more than 12 vernacular languages. 

With the generation of fresh funds, the organisation wants to add more vernacular courses and hire new faculties for other state-level examinations. 

"All our offerings focus on ‘building for Bharat’ as 85% of our user base comes from tier 2,3 and 4 cities. We want to help create a level playing field by providing all kinds of learning solutions to students from all backgrounds,” Economic Times cited co-founder Anil Nagar.

West Bridge Capital has also expressed its satisfaction with the deal. Commenting on that issue, Sandeep Singhal from West Bridge Capital said “Anil and Saurabh have worked tirelessly to build a category leader in the govt exam preparation space which is a very large market. It is one of the rare profitable ed-tech companies in India and is also growing at a rapid pace”

  • Related Articles

    These acquisitions will strengthen the content arm of the edtech unicorn

    PhysicsWallah Acquires Education Firms PrepOnline, Altis Vortex

    In addition to giving a transparent view of loans to all parties, the system will reduce operational challenges and costs and help the credit market grow fast with the operationalization of co-lending

    Finezza to introduce co-lending management solution for banks, NBFCs

    With this strategic investment, Deeksha will bring in close to 13,000 of its students to Vedantu's platform

    Vedantu takes majority stake in test prep platform Deeksha for $40 million