EduGorilla, a one-stop community in Education for students, faculty and Institutes, announced that it has raised about Rs 5.3 crore from Auxano Entrepreneur Fund, according to YourStory report.
Angel investors Venture Garage – SucSEED Venture Partners, Pune Angels, Hem Angels, and VG Angels also participated in the funding round.
Founded in 2016 by Rohit Manglik, EduGorilla provides Online Mock Tests with an emphasis on State Competitive Exams in several vernacular languages. The company services a demand in a market that is highly unorganized, and unpredictable via a comprehensive app and website.
The startup will use the funds to strengthen its marketing and sales functions for an array of its offerings.
Commenting on the funding, Rohit Manglik, Founder and CEO, EduGorilla, said: “The funding strengthens our resolve to be a formidable pillar of support to students through our top-notch content and leveraging of cutting-edge technology. It will be deployed to step up our marketing and sales efforts to cater to the recent surge in users.”
“Over 7.5 crores applicants appear for state-level competitive examinations in India every year that is an untapped opportunity for us. Approximately 93 percent of our target audience hails from rural India and barely knows English,” he added.
EduGorilla has developed an AI-powered demand and prediction algorithm to analyse the operational profitability of various competitive examinations. Apart from Lucknow, EduGorilla is currently present in cities like Delhi, Jaipur, Indore, and Ahmedabad.
According to a statement by the company, EduGorilla aims to reach six-seven lakh daily users from the existing 70,000. It also aims to develop content for over 3,000 competitive examinations in nine vernacular languages with the help of fresh capital.
“With digital being the approach and EduGorilla with its product knowledge and positioning, is poised to tap the opportunity in the competitive examination space. With its expertise in the vernacular language (five and growing) examinations, will only add to its market leadership position,” said the leadership team of Auxano Entrepreneur Fund.
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