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Test prep start-up Toppersnotes on Monday announced that it has raised $1 million in a Seed round led by Inflection Point Ventures.
The round also saw participation from LetsVenture, PlanB Capital, Pulkit Agrawal (CEO - Trell), Ashish Sharma, (MD - Innoven Capital) and other notable angel investors.
The firm will leverage the fundraise to acquire talent, boost technology and expand presence across exams.
Founded in 2015 by IIT Bombay alumni, Toppersnotes is an education initiative. The team has realised a “Phygital” solution to bringing coaching-like-quality at a low price.
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Toppersnotes is currently active in over 70 exams like UPSC, GATE, NEET, IIT, SSC, BANK and State-level government job exams with an aim to provide affordable solutions in Tier II and III cities and below markets with an intention to emerge as a market leader in the test prep market segment.
The company has more than three lakh registered aspirants primarily from Tier III and below townships on its platform. It aims to make self-study more efficient and personalised with the use of technology and provide learning at 1/10th of a coaching institute’s fees.
To scale up ‘phygital’ solution
Ayush Agrawal, Founder, Toppersnotes said, “With personalised learning, guidance and performance analytics features, we will disrupt the test prep space, where students, even today, rely heavily on textbooks, far distant coaching and local tutors.”
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“We intend to leverage technology and content to reduce the service layer present in the education industry, thus democratising education and making it affordable for everyone.”
Mitesh Shah, Co-Founder, Inflection Point Ventures, says, “Prepping for competitive tests is one of the most important journeys in a student life cycle as they decide the direction of one’s career."
“While metros offer many options to students, it is the smaller cities where we have seen the gap in the quality of mentoring and preparation of exams. Students run pillar to post and use peer group support. Toppernotes is solving this problem for the Bharat audience, which is a far bigger market than the metros and immensely underserved,” added Shah.
The start-up is planning to scale its ‘phygital’ solution in the next six months to provide students access to personalised content delivery, enhanced performance tracking and guidance in terms of personalised revision planner and learning schedules. The team will be leveraging artificial intelligence/machine learning and natural language processing algorithms on top of their structured learning data of the students.
The solution currently offers physical notes for learning and tech-based app platform for test prep.
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