Friday, September 22, 2023

Homegrown edtech platform Adda247 raises $35 million, Google new investor

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The government’s test prep platform, Adda247, said on Wednesday it raised $35 million in a round led by WestBridge Capital. The round also saw Google as a new investor.

The platform will invest the capital raised in improving its technology and product profile, expanding its student mentoring team and hiring a number of key leadership roles.

Founded by Anil Nagar and Saurabh Bansal in 2016, Adda247 will meet the learning needs of millions of students from tier 2 and 3 cities.

“Coming from a rural background, we have seen people suffer from a lack of guidance and quality education. We want to help create a level playing field by providing all kinds of learning solutions to students from all backgrounds,” says Nagar.

The latest funding round also saw participation from existing investors, including: Info Edge and Asha impact.

Adda247 currently has 22 million monthly active users and a total of two million paid users so far.

“It is one of the rare profitable ed-tech companies in India and is also growing at a rapid pace,” said Sandeep Singhal, WestBridge Capital.

Adda247 has one of the largest content repositories, comprising more than 3 million questions, more than 50,000 hours of recorded video lectures, and a state-of-the-art library of e-books. The courses are available in 12 languages.


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