eduace

eduace

Lucknow-based education startup EduAce Services has raised USD 1 million (about Rs.6.6 crore) in seed funding from MoMagic. Notably, Momagic has itself raised funding from Foxconn few days back

Founded in 2012 by Gaurava Yadav and Kalpana Singh, EduAce Services uses quizzes to teach students and has ‘School Quiz League – Pratibha Ki Khoj’ as a flagship programme.

“We have a unique format. General knowledge is a part of the curriculum till class 8th and after that it is left to the student to pursue, even though current affairs is a major segment in many competitive exams. This is what we want to change and bring in quizzing as an active form of learning,” said EduAce Services founder and CEO Gaurava Yadav. He added that the company will use the funds to add more learning programmes and expand its operations in the country.

“Right now, we have a presence in three States and 25 cities, touching about 2,500 schools. The aim is to take this to 10 states, 35 cities and 5,000 schools in the next one year.”

added that the company will focus on tier-II and III more as quizzing opportunities are often few in these places.

“In terms of revenue, in the first year, we aim to get about ₹7.5 crore.”

EduAce currently has operations in Uttar Pradesh, Madhya Pradesh and Delhi-NCR.

“This association will greatly benefit the overall school learning in India at large, enabling the future generation of India to be future ready,” said MoMagic founder and CEO Arun Gupta.

Rishnik was the fund-raising advisor to both companies.

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