Edtech startup ixamBee has raised Rs 11 crore in a pre-Series A funding round led by S Chand & Company, Gurugram-based Inflection Point Venture, Mukesh Sharma Family Trust, Keiretsu Forum, SAN Angles, Mumbai Angels, and Keyur Joshi (Co-founder of MakeMyTrip).
The startup plans to use the raised capital to drive growth by launching additional learning programs and investing in content development, marketing, and technology.
Prior to this round, It had raised Rs 5 crore in a pre-Series A round in March 2023 from Inflection Point Ventures and other investors who participated in the current round.
Founded by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh, ixamBee is an online exam preparation platform that enables students to prepare for exams at RBI, SEBI, NABARD, public sector banks, insurance companies, SSC, and other PSUs, among others.
ixamBee claims to have reached over 12 million students, with 1.9 million students registered on the platform. ixamBee Learning Experience (iLX) is a combination of a comprehensive range of study materials, practice tests, and interactive learning tools.
Chandraprakash, Co-founder and CEO of ixamBee, said, "This collaboration will exponentially increase the reach of ixamBee Learning Experience (iLX).The funds raised will be utilized to drive growth by launching additional learning programs, investing in content development, marketing initiatives, and technology enhancements.”
Vinay Bansal, Founder and CEO of Inflection Point Venture, stated, "The edtech market for higher education continues to expand rapidly and is one of the fastest-growing segments within the sector. The platform is assisting millions of students in accessing exam papers and study materials to prepare for their careers. We resonate with the purpose of their business and have chosen to invest in the company."