ixamBee, an online learning platform that makes exam preparation 50% faster, recently announced that it has raised INR 5 crore in its pre-Series A round led by Inflection Point Ventures (IPV). The funding round also witnessed SAN Angels, other angel investors and existing investors, including Mumbai Angels and Keyur Joshi (co-founder of MakeMyTrip).
According to the press statement, the startup will use the funds for marketing, content development, and technology.
Co-founded by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh in 2017, ixamBee provides the best-in-class technology-based learning solutions for competitive exams to groom the new generation of intelligent learners by making quality education accessible. The platform helps unskilled graduates and undergraduates prepare for competitive exams for jobs in central government, banks, state governments, railways, LIC, RBI, NABARD, SEBI and other competitive exams. It also offers FREE practice tests for more than 50 competitive exams for jobs in public and private sector banks, regulatory bodies, insurance companies, and other government organizations.
ixamBee aims to provide quality education to millions of students using innovative and effective technological processes and systems. It seeks to customize learning for millions of students to enhance their careers and ensure success by providing the best learning solutions most crisply and concisely.
Speaking about the latest fundraising, Founder & CEO of Inflection Point Venture, Vinay Bansal, said:
The ed-tech market for higher education continues to grow and is one of the fastest-growing segments within ed-tech. ixamBee is addressing an ever-growing market opportunity as lakhs of aspirants appear for competitive exams yearly. The preparation for such exams is nothing short of an unrelenting focus. ixamBee is helping millions of students have access to exam papers and notes to prepare for their careers. We are aligned with the purpose of their business and chose to invest in the company.
In addition to its offerings, ixamBee Learning Experience (iLX) combines a comprehensive range of study materials, practice tests, and interactive learning tools. It offers classroom coaching and test series programs for students who prefer a more traditional learning approach. The startup also provides online learning courses consisting of recorded video lessons, study notes, live classes and practice questions for smoother exam preparation. Experienced faculty members conduct these programs, which are available in select cities across India.
The company intends to provide students with a personalized learning experience tailored to their needs and learning style by tracking their progress and providing real-time feedback using advanced algorithms and data analytics. It is the only platform to give users 100+ mock exams for free.
ixamBee had previously received an undisclosed amount in the debt round from Caspian Debt last year in January. Before that, the firm had raised $300,000 in a seed funding round co-led by Jain International Trade Organisation (JITO) Angel Network and Mumbai Angels in April 2021.