MadGuy Labs, a Hyderabad-based online test preparation platform for government jobs, has announced that it has received around $150,000 in a funding round from Gray Matters Capital, a US-based impact investor.
The funding announcement was made at the Customer Story Day of the GMC Calibrator – the Mobile EdTech Accelerator Program focused on improving User Engagement on mobile education and skilling apps by in which MadGuy Labs was selected to be a part of the first cohort.
The funding from Gray Matters Capital comes through , which is the VC firm’s education and skilling sector focused innovation portfolio that funds for-profit enterprises of ‘visionary –’ who are building breakthrough solutions that address education gaps, skills and future of work for the Indian mass market.
In a statement, Smita Sircar, innovations director at edLABS, said:
The complete opportunity path from the discovery of applicable government jobs to preparation via learning towards those multiple jobs on a basic smartphone that is affordable in vernacular got edLABS excited to invest. This is especially true to create more opportunities for women to access quality content in the comfort of their homes.
The startup was founded in by IIT Roorkee alumni Alok Katiyar, Sanjay Jagarwal, and Vishal Meena. It started as a general knowledge content app and then later pivoted to its current offering. The platform had raised a seed round of $111,250 from Villgro Innovation Fund in May this year.
MadGuy Labs claims to be India’s first Artificial Intelligence (Al) driven platform for various government jobs exams preparation in regional languages. It claims to have unique algorithms with which a student can prepare for up to 50 exams simultaneously with no extra effort.