Toppr Doodle. Picture: NewsKartHyderabad based edutech startup Toppr secured $35 million (₹245 crores) in Series C fund round led by Kaizen Private Equity, Alteria Capital, Times Group, and Brand Capital. The startup plans to use these funds in advertising, product development & manufacturing, and expand its market. After this investment company’s valuation lies between $150-$200 million.
Hyderabad: In the year 2013 Zeeshan Hayath and Hemanth Goteti laid the cornerstone of Toppr. In its initial years, it focused on courses for XI and XII classes. Now it provides courses for classes V to XII. The company now also prepares students for competitive exams like JEE.
Toppr plans to extend its reaches across India and increase its market over 20 times by 2021. It claims that by 2021 it will generate revenue of around $500 million. Edutech sector is observing immense growth due to new innovations like the introduction of Artificial Intelligence and Machine Learning. More and more students are opting for digital learning over tuition classes and other sources of learning.
Toppr is not the only one in the race of edutech firms. The firm faces well established and financially stronger firms like BYJU, Unacademy, Embibe, Examify, Testbook, and Vedantu. Currently, BYJU classes and Unacademy are the biggest firms in the edutech business. Recently BYJU secured $540 million investment. In the last year, it had secured $1 billion investment.
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Toppr claims to have better learning content than BYJUs. Its because students spend around 110 minutes/day on their platform which is more than that of BYJU. Also, BYJUs’ network is spread across India while they cover a limited area. So, Toppr plans to use these funds in popularising its brand name and expanding its territory.