Edvizo, an education-technology startup that acts as a marketplace for competitive exam institutes, announced that it has raised $150,000 in seed funding from Inflection Point Ventures.
The infusion from IP Ventures marks the company’s first institutional investment, CNBC-TV18 reported.
The startup said that it will use the capital to enhance its technological infrastructure, strengthen its sales team and acquire more users.
Founded in 2017 by Ravi Nishant, the Bengaluru-based startup allows users to evaluate, compare and enrol in institutes that focus on coaching students for competitive examinations. Edvizo aspires to re-invent India’s educational institutions via innovative technology.
“The coaching institute market is an untapped opportunity which Edvizo seems to be capitalising quite well,” IP Ventures co-founder and CEO Vinay Bansal said, as per the report. “We look to support the business in its growth journey.”
Edvizo claims that it is associated with about 2,600 institutes and has more than 50,000 registrations on its platform. Its platform helps coaching institutes acquire more students and reduce their marketing and branding expenses.
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