Delhi-based edtech startup GuruQ has raised INR 2.5 crores in pre-Series A round of funding from 23 high net worth individuals. The startups has not yet revealed the names of the investors. Earlier in 2017, the startup raised an undisclosed amount of seed funding from angel investors around the globe.
GuruQ plans to utilize the fresh capital to expand its operations and improve its marketing strategies to target more customers. Founded by Minal Anand in 2016, the startup operates a platform for online and offline tutoring of secondary, higher secondary and undergraduate students all over the country. Parents and students can search for tutors in their locality and can choose tutors based on user ratings and reviews.
“This funding is a significant milestone in allowing us to expand the business, strengthen development and create value in the market with new features,” said Anand.
Apart from the basic feature, GuruQ helps students in assessing their progress and maintain timetables. Tutors on the other side can connect with the students, increase their earning potential, gain market visibility and recognition and manage their time and schedule effectively through GuruQ.
India’s online education industry is expected to grow almost eight times to hit $1.96 billion by 2021, with the number of paid users rising six-fold to 9.6 million. The Indian education industry is valued at $100 billion, and the emergence of ed-tech startups has only begun to make contributions to this number. Which is why entrepreneurs and investors see a bright future a vast playing field for edtech startups.