Lucknow: Lucknow-based ed-tech start-up EduGorilla has raised funding to the tune of approximately Rs 5.3 crores (USD 726,000) from SEBI – Cat 1 Angel Fund – Auxano Entrepreneur Fund and group of angels led by Venture Garage –SucSEED Venture Partners, Pune Angels, Hem Angels and VG Angels.
EduGorilla plans to utilize the funding for intensification of its marketing and sales functions for an array of its offerings.
It is currently teams in five cities – New Delhi, Jaipur, Indore, Ahmedabad and Lucknow.
EduGorilla aims to cater to 6-7 lakhs users daily from the existing 70,000 besides developing content for over 3,000 competitive examinations in nine vernacular languages with the help of fresh capital.
Commenting on the development on Thursday, Mr Rohit Manglik, founder and EduGorilla, said in a press release said, “Funding strengthens our resolve to be a formidable pillar of support to students through our top-notch content and leveraging of cutting-edge technology.
It will be deployed to step up our marketing and sales efforts to cater to the recent surge in users. Over 7.5 crores applicants appear for state-level competitive examinations in India every year that is an untapped opportunity for us. Approximately 93 per cent of our target audience hails from rural India and barely knows English.”
EduGorilla launched the first test series in November 2018 and built a set of technology tools to reduce the turnaround time for conducting a demand analysis as well as for the creation and distribution of content.
EduGorilla currently caters to 1200+ competitive entrance exams in five languages with a focus on state-level government examinations such as Karnataka State Police, Punjab Public Service Commission, and Telangana State Cooperative Apex Bank examinations.
EduGorilla has built an Artificial Intelligence-powered demand and prediction algorithm to assess the operational profitability of various competitive examinations.