TestnTrack, an AI-powered SaaS platform that serves as a one-stop shop for all examination needs, including physical and digital examination, has received an undisclosed sum in pre-seed round led by EvolveX, a global startup accelerator run by We Founder Circle (WFC). According to the company, with an infusion of new funds, the Jaipur-based startup plans to expand its footprint across 25 cities, focusing on cities such as Kota, Ahmedabad, Delhi, Mumbai, Pune, Lucknow, and Indore, with the aim of evaluating 50,000 students in the coming year.
Vinay Kamal Sharma, Priya Soni, and Ritwik Joshi co-founded TestnTrack in 2022 to redefine the traditional Hand-written Assessment process by providing educational institutions and coaching centres with multifaceted solutions. The platform is transforming traditional manual copy-checking. It automates hand-written assessments, saving teachers millions of hours and effort. Using AI, teachers scan and upload students’ answer sheets for real-time processing, delivering not just marks but audio feedback in no time. Testntrack is also pioneering the development of models for vernacular languages, ensuring inclusivity and accessibility in the realm of education technology. From designing exam papers to instant evaluation, the startup disrupts age-old education practices, propelling BHARAT forward.
Speaking on the fundraising, Co-founder & CEO of TestnTrack, Vinay Kamal Sharma, said:
This infusion of capital addresses a necessity the EdTech industry didn’t realize it needed. Our journey began in a single room, driven by a business vision and the belief that education is a fundamental right. We are enthusiastic about collaborating with WFC, leveraging their long-term vision and esteemed global network to shape a company that transcends generations. The continued support from our existing investors is deeply appreciated. We eagerly anticipate the promising future ahead as we focus on long-term institutional development and creating value for all stakeholders.
The company claims to have onboarded over 112 institutions across three states and six cities since its inception, evaluating over 56,000 test sheets to date. In FY24, the firm expects to earn INR 1.8 crore.
Commenting on the potential of TestnTrack, Bhawna Bhatnagar, Co-founder of EvolveX, stated:
TestnTrack’s platform empowers teachers to deliver meticulous gap analysis reports, offering students personalized insights into their learning gaps and strengths. Furthermore, TestnTrack’s platform extends beyond the classroom by providing parents with comprehensive, data-driven insights into their child’s academic journey, fostering a collaborative ecosystem crucial for academic triumph.
Bhatnagar also emphasized EvolveX’s commitment, stating:
At EvolveX, we are dedicated to extending comprehensive support, mentorship, and guidance to TestnTrack. We aim to bolster their innovative approach, ensuring they receive the necessary resources and strategic mentorship to navigate the dynamic EdTech landscape successfully.
EvolveX’s support for TestnTrack comes at a crucial time, as the education technology (EdTech) sector, specifically the test preparation and Academic Assessment segment, is expected to reach a staggering $9 billion market opportunity by 2030.
With a mission to take startups to the next level, EvolveX offers its extensive network of seasoned mentors and successful entrepreneurs to guide startups on their journey to success. The programme provides various benefits, including one-on-one mentorship sessions with handpicked angel investors and industry experts, upfront funding of $30K, and $200K worth of credits. It is committed to providing a continuous opportunity for startups, and applications are accepted on a rolling basis.