Prepseed, an AI-enabled exam preparation platform for JEE/NEET, has raised INR 2 crore in a seed funding from Chiripal Group of Companies. The company’s investment was valued at INR 10 crore.
Co-founded by Vivek Kankaria, Prepseed uses AI and machine learning to help educational institutions save time and money. The platform serves over 150,000+ students and 230+ educational institutions, coaching classes, schools, and colleges. The company’s mission is to expand its scope to include educational institutes and academies and allow each participant to focus on their area of expertise while technology handles the rest. All educational institutions, including colleges, high schools, and coaching facilities, are included in Prepseed’s target market. They can use the LMS and ERP to streamline their daily operations while also maximising the potential of the institute’s resources, such as its teachers, classrooms, fee structure, etc.
Commenting on the fundraising, Co-founder & CEO of Prepseed, Vivek Kankaria, said:
We are delighted to receive the seed funding, and the resources will be utilised for advanced AI and machine learning technology, allowing educational institutions and students to identify better and address the difficulty levels of the students’ vis a vis their courses and subjects.
Kankaria further added:
No one should be denied an education because they lack resources, particularly in the age when technology is available to each and all. Education is not about how hard you work; it’s about how smart you work.
Allen Institute for Careers, JNV (Jawahar Navodaya Vidyalaya), Resonance, Reliable Institute, Dakshana Foundation, Vyas edification etc., are using Prepseed’s Learning Management System (LMS) and/or Enterprise Resource Planning (ERP) services. AIR 5- 2022 (All India Ranking), Reliable student from Kota has been using the portal for more than two years. Similarly, students of the same institute succeeded in getting admission in various IITs’ with more than 50% of total students attempting the exam for the year. Subsequently, when the Company’s data was analysed, use of the Prepseed portal was one of the major distinguishing factors for this applaudable result.
The application version for mobile phones and tablets for the students, teachers, admins and management has also been developed and is under the testing stage. The Ahmedabad-based startup has a vision of attempting to make education more horizontal through technology, trying to provide the same opportunities to private and public institutions. The next step is to digitise institutions, particularly in India, to bridge the gap between teachers’ and students’ potential.
Vansh Chiripal, who has joined the Board of the company, added:
The gap in India’s educational sector must be filled by revolutionising technology in the right direction. India has a large population; not all teachers have the time and/or resources to cater to each student with the same importance to all and to understand & determine what their educational pros and lacunae are. Prepseed had been successfully assisting the faculties on the same lines and further facilitated in filling this gap by introducing digitalization into the operations of educational institutions. This helps subscribers to Prepseed save resources and time while ensuring optimal growth of the system.
According to Vivek, technology helps perform tasks that take time and financial resources, which is why Prepseed.com. The company is in the beta phase of developing software enabling administrators to perform all necessary admin tasks on a single screen to eliminate the resource and financial waste in the heavily manpower-driven Indian education sector. With the help of AI, it will be possible to comprehend what is required for each educational institution and make the process simpler and faster.