Bengaluru-Based Oliveboard Raises Funding Rs 23 Cr Led By IAN Fund
- ByStartupStory | July 12, 2021
Edtech platform Oliveboard raises Rs 23 Cr led by IAN Fund with participation from Education Catalyst Fund (ECF) and Yukti Securities. Oliveboard will use the funding to expand its number of national-level courses/exams, add state-level categories, and invest in interactive data-driven products for learning. Startup will further focus on investing in technology for interactive data-driven products, which will lead to customised learning at a more granular level for individuals.
Abhishek Patil, Co-Founder said, “Our key focus area is to provide data-driven personalised coaching to each learner based on their preparation levels for an exam. Given our success in the banking and insurance exam category, we are well-positioned to expand our offerings seamlessly into other newer and lesser served exam categories.”
Sudipta Gautam, Managing Partner, IAN Fund, said about the investment,“The market size of the government job entrance exam preparation industry in India is estimated to be nearly Rs 400 billion. Before March 2020, a large portion of this market was dominated by offline coaching institutes and the pandemic has been a catalyst in the adoption of online solutions. This market is bound to grow as the demand for test preparation has been stimulated by the increasing internet penetration in tier-II and tier-III cities in the country.”
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