TestnTrack, AI Startup, Secures Unspecified Pre-Seed Funding from EvolveX Accelerator
- ByStartupStory | December 26, 2023
TestnTrack, an AI-driven SaaS platform and the sole handwritten assessment platform globally, has secured an undisclosed amount in its pre-seed funding from EvolveX, a global startup accelerator under We Founder Circle (WFC).
Empowered by AI, TestnTrack revolutionizes traditional handwritten assessments in educational institutions and coaching centers. By automating manual copy-checking, the platform leverages AI to scan and process handwritten answer sheets in real-time, offering not just marks but also audio feedback swiftly.
Vinay Kamal Sharma, CEO of TestnTrack, highlighted the significance of this investment for the EdTech industry, stating, “This infusion of capital addresses a necessity the EdTech industry didn’t realize it needed. Our journey began in a single room, driven not just by a business vision but by the belief that education is a fundamental right.”
The investment from EvolveX and other notable contributors like We Founder Circle (WFC) and GK Ventures reflects widespread confidence in TestnTrack’s innovative approach. Bhawna Bhatnagar, Co-Founder of EvolveX, emphasized the platform’s impact on education, stating, “TestnTrack’s platform empowers teachers to deliver meticulous gap analysis reports, offering students personalized insights into their individual learning gaps and strengths.”
Additionally, TestnTrack plans to utilize the funds to expand across 25 cities and assess 50,000 students in the upcoming year. The focus remains on enhancing its AI Learning Assistance, Nivaa, and upgrading the AI-powered Audio Feedback API for EdTech companies.
Since its establishment in 2022, TestnTrack has onboarded over 112 institutions, assessing more than 56,000 test sheets to date. The company aims for a revenue of INR 1.8 Crore in the fiscal year 2024.
EvolveX, founded by We Founder Circle, aims to propel early-revenue startups by providing acceleration and mentoring. The program offers benefits like mentorship sessions, funding, and industry expert guidance. We Founder Circle, established in 2020, is committed to nurturing and empowering early-stage startups with seed funding, business development, and global networking opportunities.
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