In yet another indication of growing investor interest into India’s ed-tech startup ecosystem, Plancess EduSolutions, a Mumbai-based test preparation platform has raised $2 million in a funding round from Gogri Family of Aarti Group. The company provides IIT JEE study Material, IIT JEE Online Test Series and IIT JEE Video Lectures to students preparing for boards.
The newly raised funds will be used to accelerate Plancess’s product development efforts and to expand its distribution presence in other geographies. It is also planing to foray into Medical Entrance Preparation by 2016-2017.
The company was founded by Vivek Gupta, Nitesh Salvi and Mirik Gogri in 2015 with an aim to become the platform of choice by providing every student a single destination for all his examination and mentorship needs.
Plancess offers JEE Video Lectures, Study Material and Test Series by Top 100 JEE Rankers in Samsung tablets for students. The complete package provides exhaustive subject & topic-wise content through comprehensive video lectures, ebooks and mock tests.
Nitesh Salvi, Director & Co-founder at Plancess EduSolutions, said
India witnesses close to 1.5 MN applicants for the IIT JEE every year, and this is just one of the many entrance tests in India. Education is very highly placed in our social structure – and rightly so. Every parent wants their child to go to the best institute and the best institutes require the student to qualify through an entrance test. It’s not difficult to guess why the test prep sector is one of the fastest growing segments in India’s education industry
Gogri, Chairman of Aarti Group said,
The team at Plancess is making aggressive inroads into the education industry. It has quickly grown into a structure which has a strong product roadmap and stable business model for its print and digital offerings. We are pleased with the vision, commitment and speed of execution of the founding members. Rarely have we come across an education technology venture in India which has rapidly scaled from a hostel room to a team of 100+ individuals who are brimming with energy to make things happen.
Traditionally, the test preparation space had been dominated by coaching institutes across numerous Tier II and Tier III India cities. However, numerous ed-tech startups targeting the test preparation domain have come up, offering students the ease of studying for some of India’s (and world’s) toughest entrance exams from the comfort of their home.
In the online test preparation space, Plancess will compete with Toppr, which recently raised $10 million in Series B round and Testbook which received a staggering $15 million in investment last month.