And here’s another edtech startup raising fresh capital (ed-tech trust me, has been on a roll this week). Lucknow-based EduAce, a startup which runs special quizzing programmes to help students prepping from competitive exams stay in touch with current affairs, has bagged $1 Million in fresh funds from Foxconn-backed MoMagic.
Founded in 2012, EduAce use the popular-among-kids format of quizzing to help students stay up to date withe latest happenings across the globe. The startup currently has one such flagship program, called ‘School Quiz League – Pratibha Ki Khoj’.
Talking about this round, Founder and CEO Gaurava Yadav says,
We have a unique format. General knowledge is a part of the curriculum till class 8th and after that it is left to the student to pursue, even though current affairs is a major segment in many competitive exams. This is what we want to change and bring in quizzing as an active form of learning.
This freshly raised capital will be deployed to add more learning programmes and expand its operations in the country. Yadav ads,
Right now, we have a presence in 3 states and 25 cities, touching about 2,500 schools. The aim is to take this to 10 states, 35 cities and 5,000 schools in the next one year.
EduAce, which is already targeting revenues to the north of $1 Million, is currently operational in its home state of Uttar Pradesh, apart from Madhya Pradesh and Delhi-NCR.