IxamBee raises Rs 11 Cr in pre-Series A funding round for its edtech platform
- ByStartupStory | May 10, 2023
IxamBee, an online learning platform, has recently concluded its pre-Series A funding round, raising INR 11 crore. S Chand & Company, IPV (Inflection Point Venture), Mukesh Sharma Family Trust, Keiretsu Forum, SAN Angles, Mumbai Angels, and Keyur Joshi (Co-founder of MakeMyTrip) led the funding round. Additionally, the round also included a secondary transaction of INR 3 crore.
IxamBee plans to utilize the funds from its recent pre-Series A funding round to fuel growth initiatives, including the launch of new learning programs, content development, marketing, and technology investment. The online learning platform, founded by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh, is well-known for its flagship product that offers exam preparation services for recruitment exams across various sectors such as public sector banks, insurance companies, RBI, SEBI, NABARD, SSC, and more.
IxamBee adopts a freemium business model that provides free mock tests for more than 100 exams. The platform claims to have amassed over 12 million students, with 1.9 million of them registered on the platform. IxamBee’s flagship product, ixamBee Learning Experience (iLX), offers an all-in-one solution consisting of various study materials, interactive learning tools, and practice tests.
IxamBee provides classroom coaching and test series programs, catering to students who prefer a conventional learning approach. These programs are delivered by skilled faculty members and are currently available in selected cities throughout India.
IxamBee had secured an undisclosed sum in a debt round from Caspian Debt in January 2022, and in April 2021, it raised $300,000 in seed funding from a consortium led by Jain International Trade Organisation (JITO) Angel Network and Mumbai Angels.
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