Following the progressive tide of funds flowing into edtech startups, Calcutta Angels Network (CAN) has invested an undisclosed amount of funds in Zeroinfy. This is another platform which helps students prepare for competitive exams. By investing in this round, the angel network has acquired a healthy 10 percent stake in the company.
Commenting about the funding round, Zeroinfy co-founder Aditya Bajaj, said,
The sum, the first round of seed fund, will be used to expand team as well as further enhance technology. Part of the money will be used to acquire customer and faculty.
Zeroinfy was founded in July last year by Abhishek Bajaj and Rohit Bajaj. It is a NASSCOM incubated startup which helps students prepare for competitive exams like CA, CS, CFA, FRM and IIT/JEE. It provides video lectures from the best teachers throughout the country through different mediums. It also encourages students to share their personal notes with other students.
The startup is providing access to the best and most reputed Professors from across India, by streaming their classes online/delivering it in pen drives, which can then be viewed multiple times, 24X7, anytime anywhere.
The company claims to have more than 50 instructors from different fields who are creating content for the portal. With digital marketing, Zeroinfy has recently also started getting traction from tier-II cities like Durgapur, Asansol, Bhubaneswar, Vijaywada and others.
As per the company’s claims, it has so far attracted the attention of more than 25,000 users. This newly raised capital will give the company much needed boost in order to add more courses and to expand its footprint to tier-II and tier-III cities.
Elaborating on the Zeroinfy investment, CAN president Sidharth Pansari said:
CAN’s vision is to give shape to worthy ideas and we are happy to get the scope of mentoring these budding entrepreneurs.
Calcutta Angels Network is now planning to support 10 startups, including at least three city-based ventures, in the remaining period of this fiscal.
Recently, many ed-tech startups have raised significant amount of funding. Most recently, BYJU’s raised around $50 million to expand its reach internationally. Other similar startups inlcude WiFiStudy, TalentSaath.com, Simplilearn, Flipclass, EasyPrep, Toppr, etc.