EduGorilla Raises INR 16.5 Crore Funding Led By SucSEED Indovation Fund
The fund raised will be used to expand the platform's content into a total of nine vernacular languages and aims for 10 to 11 lakh new paid users from online test series, video classes and books for over 1600 examinations
EduGorilla, Lucknow-based edtech company, has raised INR 16.5 crore in a funding round led by SucSEED Indovation Fund. The round also witnessed participation from Lead Angels Fund, Mumbai Angels, TiE India, VG Angels, WeFounderCircle, Ah Ventures, along with many other angel investors. The fund raised will be utilized to expand the platform's content into a total of nine vernacular languages and aims for 10 to 11 lakh new paid users from online test series, video classes and books for over 1600 examinations.
"Over 70 per cent of our students hails from rural India and majority of them are not well-versed in English, making it essential to focus on vernacular languages as we reach out to a 7.5 crore student base in tier II and III cities and villages. This funding will help us bringing quality education in their preferred vernacular language at their doorstep," said Rohit Mangalik, founder and CEO, EduGorilla.
"With the advancement of AI tech, the market for online test preparation has experienced a CAGR of 64 per cent over the past five years, yet 90 per cent of test preparation centres are in the unorganised segment, showing a huge addressable market. During our past two years of association with EduGorilla, we have noticed that their biggest differentiator is their dedication to increase student success rates, which culminated in to a beginning of hockey-stick growth for their business too," said Vikrant Varshney, co-founder and managing partner, SucSEED Indovation Fund.
EduGorilla is an edtech company that offers various educational resources like online test series, video classes and books for state-level and lesser-known exams. The company claimed that its vision encapsulates helping students to crack their exams with a 14 times success rate and through its six patents, they have fast-tracked the process of curating educational content, synchronising its availability with the exam schedule.