Edukemy, India’s emerging test prep EdTech company, has raised $2Mn in Pre–Series A funding round lead by Auxano, Falcon5, and other angel investors. These funds will be used to further strengthen Edukemy's position by working towards building the best test prep platform for multiple competitive examinations, as well as to build the team and scale the product.
Edukemy was founded during the pandemic in 2020 to build a cutting-edge technology driven platform which is an enabler for ‘learner and educator’ as a combined solution, with a key focus on personalised education. With this clear aim, Edukemy created one-of-a-kind evaluation model for non-subjective as well as subjective competitive exams. Since December 2020, Edukemy is gaining great traction with a growth of 3x in the content view by the audience and doubled the engagement rates in classes by making the learning interactive and effective. Our subscriber revenue is growing rapidly, and we aim to reach 1 million paid learners by 2023 and plan to expand into additional verticals.
Mr. Chandrahas Panigrahi, CEO and Co-Founder, Edukemy, said, “We are thrilled and humbled to welcome like-minded business partners as we grow together in our journey of becoming the best EdTech company in the government competitive test preparation. Since our inception, our business and presence in the field has grown multifold. The company is working towards achieving an ARR of $3Mn in revenue. This year, in the first quarter alone Edukemy tripled its revenue base and crossed 10k+ paid learners and plans to scale 4X in the current year.”
Mr. Manish Mehta, Managing Partner- Falcon 5, said, “We were extremely impressed by Edukemy founders’ vision to disrupt the non-stem test prep sector through technological innovation. Their bold approach is exactly what is needed to provide learners with evaluation-driven pedagogy and personalised learning experiences, and we are excited to join them on their next mission to reach out millions of students achieve their dreams and success in life.”
The spokesperson from Auxano, said, “We are pleased to be associated with Edukemy. We believe in their pedagogy delivering impact to the students preparing for government exams. The innovative technology solutions enabling scalability and solving challenges faced by the learners and educators is positive for the growth in this space.”
Edukemy has also come up with a unique TCE model which is unmatched in the EdTech world, result of consumer research and solution to the problems faced by them. TCE stands for Teaching Methods, Content Experience and Evaluation & Feedback. For evaluation and feedback in the TCE model, the company created ‘Korrecto', which provides personalised feedback to each individual student and is powered by cutting-edge evaluation tools that use artificial intelligence and machine learning technology.