Online test preparation platform, OnlineTyari, has received around $2.1 million investment from Michael & Susan Dell Foundation. The company is raising around Rs. 20 crore in this round, and Michael & Susan Dell Foundation is the lead investor.
Now, this investment will be used by the company in expanding its vernacular offering, widen the exam coverage and to strengthen its technology and analytics engine.
Prachi Windlass, Education Director, India, Michael & Susan Dell Foundation, said,
OT[OnlineTyari] has already disrupted the market for test prep in India by creating a personalized, data-backed solution for a large but often ignored market segment. The platform approach– that curates content from multiple partners– enables them to provide high quality exam content with a very short time-to-market. This is very important for this market segment as students may appear for multiple exams and need a one-stop solution. OT will play a huge role in helping students from smaller towns and low-income families access test prep services.
OnlineTyari was founded in 2014 by Vipin Agarwal and Bhola Ram Meena. They have worked in an advisory role with the Government of India on the Digital India initiative.
Since its launch, OnlineTyari claims to have become one of the fastest growing ed-tech platforms today, growing ten times in the past 12 months in terms of the average time spent by users on the platform every month. Also, it recorded nearly 3.5 million downloads and over 400,000 daily active users.
Commenting on the investment, Vipin Agarwal, co-founder and CEO, Online Tyari, said,
India is witnessing a paradigm shift toward online educational services. We are proud to be at the centre of this and excited to partner with the Michael & Susan Dell Foundation as we move into the next phase of our growth. This partnership will help us introduce new business best practices and to achieve the scale needed to reach our goal: improving education and skill development for more than 100 million people every year across India.
The platform functions in a easy-to-use manner. People buy question banks, online tests, articles and e-books on the platform in either Hindi or English and also collate notes to prepare for competitive examinations. It basically aggregates content from a host of test preparation centres, alomg with providing its own content.
Founded in 1999, the mission of Michael & Susan Dell Foundation is to transform the lives of children living in urban poverty through better education, family economic stability and health. Earlier this year, the foundation earmarked an additional $50 Million towards investments in the country over the next three years. It has recently also invested $900k in ConveGenius.