Bangalore-based ed-tech startup Edvizo has announced that it has raised $150,000 (INR 1.13+ crore) in its seed round led by Gurgaon-based VC firm, Inflection Point Ventures. With the latest raised capital, the startup is planning to enhance its technical and sales team, obtain more users, and widen its reach to more cities.
Edvizo is an online marketplace to compare, search, and enroll in the leading institutes for competitive exam preparation. It also allows coaching institutes to attract more students by their platform, which helps them reduce their expenditure on branding and marketing and invest more in collaborating best teaching talent. Edvizo has already connected with 2650 institutes and has more than 50,000 registrations on its platform.
Edvizo CEO Ravi Nishant said, our team is excited to work with IPV to go on establishing and rolling out our ed-tech startup at the next level. Due to lockdown held amid the pandemic, the education and learning sector is going through a vast transformation. Most of the institutes are presently facing a lot of issues in conducting online classes to get students for their new session. Our team is trying to make use of this opportunity.
The investment in Edvizo is IPV’s first institutional investment. Earlier this, IPV has made more 7 investments in the past 2 months. IPV has been funding in health tech startups to keep firms working, scaling-up, and helping more people to fight the outbreak.
Inflection Point Ventures CEO Vinay Bansal said that many of the ed-tech startups are going after universities, schools, or directly to students kind of a market. However, the coaching institute market is an untouched market where Edvizo is seeking the opportunity to be capitalizing. Its understanding of the market, the pain points faced by the coaching institutes, and the application of technology in resolving those problems have put them in a good position in the market. IPV team is pleased to back a very unique, and already profitable business model, driven by a passionate founding team. Our team looks to support the platform in its growth journey.
Edvizo plans to enhance its tech proficiency to keep on improving the data quality, which would help them get on-board credible institutes. Currently, it has a layered process that filters an institute and gets it on-board.
Your rate 3 stars is recorded
StartupWorld is the destination to learn about new and upcoming startups making waves on the web. Being an entrepreneur is as much hard work as it is fun. No one knows it better than you do. Share your story, send it in and let us showcase it to the world.