FlashPrep Raises $500,000 Pre-Seed Funding Led By Venture Highway
The funding will help the startup to strengthen its user base and expand product offerings
Bengaluru-based FlashPrep announced on Tuesday to have raised $500,000 in a pre-Seed Round led by Venture Highway. The funding round also witnessed additional participation from Better Capital, First Cheque, and a few Angel Investors.
FlashPrep is an exam preparation companion that allows aspirants to study, practice and self-evaluate by taking tests and challenges on their study material. The startup plans to utilize the fresh funds to strengthen and amplify the company's user base and expand product offerings.
“Competitive exam prep is a productivity problem which leans the preparation more towards strategy and efficiency. At FlashPrep, we believe in building a companion app for subject mastery and providing access to quality content for aspirants across tiers. The funding will help us to further take this ambition to new heights, diversify our product offering and strengthen our user base,” said Dhiresh Nagwani, co-founder and chief executive officer, FlashPrep.
Launched in April 2021, FlashPrep is a collection of best-in-class study tools which enable students to practice, identify weaknesses, benchmark and master subjects they are studying, leading to better learning outcomes. The platform, co-founded by Dhiresh Nagwani and Ashwini Dhekane, both IIT Kanpur alumni, enables learners to make quantifiable progress during their test preparation journey in short (5-15 minutes) study sessions on the go.
“Achieving mastery is an important milestone in all learning endeavors but so far there has been no technology that made it easy for users to keep track of what they know well, what they need more practice on, how their progress is improving and more. That’s exactly what FlashPrep is, a practice AI and mastery app for learners. We are excited to partner with Dhiresh and Ashwini from day 1 and look forward to FlashPrep building the world’s first practice AI software” shared Vaibhav Domkundwar, founder and chief executive officer, Better Capital.
The platform uses science-backed practice techniques such as spaced repetition to help students retain information for longer and track their progress to ensure that preparation levels are where they need to be.
“We are very thrilled to work with Dhiresh and his team in helping with their vision of being the most relevant preparatory app for students sitting for any form of competitive evaluation. As a parent, I understand the power of consistent practice alongside studying for good results! Flashprep’s testing formats combined with some highly contextualized student-centric features solves a real pain point and their early customer love is evidence to that,” commented Priya Mohan, investor, Venture Highway.
Post their establishment in October 2020, FlashPrep launched the first version of the platform on Android and iOS in April 2021 and has tracked 30,000 downloads as of date. The app has become a sleeper hit among NEET and UPSC aspirants and has grown to over 15,000 monthly active users.