EduGorilla raises Rs 16.5 crore in funding led by SucSEED Indovation

• ByStartupStory     |    June 13, 2022

SucSEED Indovation Fund led a funding round for Lucknow-based edtech company EduGorilla, which raised Rs 16.5 crore. Lead Angels Fund, Mumbai Angels, TiE India, VG Angels, WeFounderCircle, Ah Ventures, and many other angel investors also participated in the round. The funds raised will be used to expand the platform’s content into nine vernacular languages, with the goal of attracting 10 to 11 lakh new paid users through online test series, video classes, and books for over 1600 examinations.

Rohit Mangalik, EduGorilla’s founder and CEO stated that over 70% of students are from rural India, and the majority of them do not speak English, so the focus must be on vernacular languages as the firm reaches out to 7.5 crore students in tier II and III cities and villages. This funding will assist in bringing quality education to their door in their preferred vernacular language.

Vikrant Varshney, co-founder and managing partner, SucSEED Indovation Fund said that during the initial two years of working with EduGorilla, it’s noticed that their biggest differentiator is their commitment to increasing student success rates, which has resulted in a start of hockey-stick growth for their business as well. Also with the advancement of AI technology, the market for online test preparation has grown at a CAGR of 64% over the last five years, but 90% of test preparation centres are unorganised, indicating a large addressable market. 

EduGorilla is an edtech company that provides online test series, video classes, and books for state-level and lesser-known exams. The company claimed that its vision entails assisting students to pass their exams with a 14-fold success rate, and that through its six patents, they have accelerated the process of curating educational content, synchronising its availability with the exam schedule.

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