Classplus endorses test prep app Abhinay Maths

• ByStartupStory     |    February 3, 2023

App for test preparation Classplus, an edtech platform, has invested an undisclosed sum in Abhinay Maths. 

Abhinay Maths, situated in Noida, intends to use the funds for business expansion, branding, and marketing.

Abhinay Sharma, founder and chief executive officer, Abhinay Maths, said, “This strategic investment from Classplus will also allow us to use the leverage of technology and provide cost-effective test prep coaching to millions of government job seekers from tier 2, 3, and 4 cities.” 

Amcp Edutech Pvt Ltd, which operates Abhinay Maths, was founded in 2017 by Sharma and focuses on competitive exams such as the Staff Selection Commission Combined Graduate Level (SSC-CGL), Bank (Probationary Officer), Railways, and other government exams. 

The startup began as an educational YouTube channel, gaining over 2.5 million subscribers. Following that, it launched an app in collaboration with Classplus that claims to serve over 200,000 students in 500 cities and towns across the country.

Classplus, founded in 2018 by Mukul Rustagi and Bhaswat Agarwal, is a mobile-first software-as-a-service (SaaS) platform that enables educators and content creators to build their online presence, digitize and monetize their offline education centers.

Classplus raised $70 million in March of last year as part of its Series D funding round, which was led by Tiger Global Management and Alpha Wave Global. 

The edtech business has raised a total of $160 million from a variety of investors, including RTP Global, Blume Ventures, Sequoia Capital India’s Surge, and Spiral Ventures. 

The edtech sector is currently experiencing unprecedented difficulties, with mass layoffs and edtech startups closing shop. Some of the biggest names in the edtech industry, including Byjus, Vedantu, and Unacademy, have had to give their employees pink slips.

Even the startups that have been able to raise funds have done it in far lower amounts. For example, Ahmedabad-based edtech startup Saarthi Pedagogy closed its pre-Series A investment round on Tuesday for $3.7 million (around Rs 30 crore).  Toddle, a learning management system startup, had previously raised $17 million in a Series A round led by Sequoia Capital India.

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