Genext Students — India’s first hybrid ed-tech tutoring platform — said on Monday that it has raised equity financing of Rs 1.4 crore (~US$ 200,000) from 1Crowd, an ecosystem for startups. This is the first part of the company’s larger plan to raise US$ 1 million.
A leading company in the Indian ed-tech space, Genext Students offers a combination of the best of private home tutoring and technology-enabled learning panning across the curricula of major national and state level educational boards — CBSE, ICSE, Maharashtra Board, Rajasthan Board and Uttar Pradesh Board in English as well as Hindi languages
Through the funds infused, the company seeks to further strengthen its technology and augment its marketing activities. Plans are also on the anvil to create a robust team of dynamic professionals who would bring in their rich expertise to bolster the company’s future. Genext Students envisions being the leading ed-tech hybrid tutoring services provider in the country having a pan India presence within the next couple of years’ time.
“The path to a society with access to high quality, convenient, inexpensive and ubiquitously available education makes for utopian narrative. Genext Students is an extremely interesting startup, a vehicle ready to carry us on that path. 1Crowd has not only raised capital but importantly has worked closely with the founders in shaping the business model and providing strategic guidance.” said Anil Gudibande, co-founder 1Crowd.
Ali Asgar Kagzi, Co-founder, Genext Students, said, “The funds will be used to accelerate product-technology development and enhance our marketing efforts. We also plan to strengthen our core team. We are all geared up and determined to achieve rapid growth in coming months. ”