Edtech Startup Genext Students Secures $580K In Pre-Series A Funding

Genext Students, hybrid tutoring platform has secured $ 580K in its pre-Series A funding round from undisclosed investors.

Genext Students plans to utilise freshly raised funds to fortify its team, strengthen its tech backbone and expand the services to new cities such as Bengaluru, Lucknow, Jaipur, Hyderabad and Chennai.

Commenting on the development, Ali Asgar Kagzi, Co-founder and Director, Genext Students said, “Genext Students is not only an aggregator of tutors but also an ecosystem that benefits parents, students and tutors equally. In FY 2016-17, we have been able to register over 1000% growth with the optimum blend of offline and online personalised learning services.With our fresh round of funds, we aim to expand our services to more cities across a greater number of geographies and make use of technology in an enhanced manner. With a commendable growth of tutoring sessions witnessed in Mumbai and Pune, Genext Students is on a path of aggressive growth.”

Founded in February 2013, Genext connects parents with the home tutors for their children. Conceptualised by the cousin-duo Ali Asgar Kagzi and Asad Daud, Genext Students one-of-its-kind platform brings quality home tutors along with proprietary content (online & offline) to the doorstep of needy parents/students using technology as a key driver.

With more than 4,000 tutorpreneurs and 75% M-O-M repeat customers, Genext Students have completed 20,000+ tutoring sessions in the last lease year across Pune and Mumbai. It claims to have over 1 million users of its digital study content.

The startup offers a combination of private home tutoring and technology-enabled learning across the curricula of national, international and state level syllabi. It bridges the existing discovery, connection and delivery gap in the K-12 education system. Apart from delivering content in English, Genext Students claims to be first Ed tech company to have launched content for Hindi medium students in India.

Genext Students Raises Rs 1.4 Cr from Equity Crowdfunding Platform 1Crowd

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. ”