Mumbai Angels Network, a platform for early-stage investments along with other investors, participated in a $750k round for Eduncle, online learning platform for IIT JAM, UGC NET and CSIR NET.
Eduncle will utilize the freshly infused capital to achieve its expansion objectives and to develop new product for additional exams, commence live classes, and bolster its tech infrastructure.
The platform also plans on augmenting its doubt-solving features with the integration of AI and ML.
“With the ed-tech space witnessing cut-throat competition, the need for unique solutions is greater than ever before, and Eduncle is doing just that. The platform has seen 2x growth in its student base, paid subscribers, and revenue in the last 12 months while being extremely capital efficient. We believe that the fresh capital will allow them to achieve their goals and reach greater heights,” said Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network.
Dr. Arpit Pareek, Co-Founder, and COO of Eduncle, said, “Our platform provides learners with end-to-end test preparation and guidance for higher education with multiple features such as live classes, video lectures, printed material, automated doubt solutions, and test series combined with personalized one-on-one mentorship sessions. We are elated to have marquee investors backing us in our growth journey. The capital will allow us to enhance our offerings and scale further.”