ixamBee, a online learning platform focusing on job preparation for government job aspirant, has successfully secured equity funding of Rs 11 crore in its latest funding round.

The company, in a statement, said that the investment comes from renowned investors, including S Chand & Company, IPV (Inflection Point Venture), Mukesh Sharma Family Trust, Keiretsu Forum, SAN Angles, Mumbai Angels, and Keyur Joshi (Co-founder of MakeMyTrip).

The funding round also involved a secondary transaction of Rs 3 crore. ixamBee was founded by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh in 2016.

The edtech platform claims that it operates on a freemium business model, offering free mock tests for over 100 exams. Currently, ixamBee has reached over 12 million students, with 1.9 million students registered on the platform.

Chandraprakash, Co-founder and CEO of ixamBee, commenting on the fundraise, said, "This collaboration will exponentially increase the reach of ixamBee Learning Experience (iLX).The funds raised will be utilized to drive growth by launching additional learning programs, investing in content development, marketing initiatives, and technology enhancements.” 

Vinay Bansal, Founder and CEO of Inflection Point Venture, stated, "The edtech market for higher education continues to expand rapidly and is one of the fastest-growing segments within the sector. The platform is assisting millions of students in accessing exam papers and study materials to prepare for their careers. We resonate with the purpose of their business and have chosen to invest in the company." 

The company, said that the newly secured funds will be utilised to drive growth by launching additional learning programs and investing in content development, marketing, and technology. ixamBee aims to enhance its comprehensive range of study materials, practice tests, interactive learning tools, and personalisation features under the iLX umbrella.

Prior to this funding round, ixamBee had secured investments from Mumbai Angels Network, JITO Angel Network, Keyur Joshi, Vishal Gandhi, Founder and CEO of BVA (BIORx Venture Advisors), acted as the financial advisor in both the primary and secondary funding rounds facilitated by S Chand and Mukesh Sharma Trust.