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[Funding alert] Toprankers raises $4 mn in funding led by Sixth Sense Ventures

By Viestories
New Update
[Funding alert] Toprankers raises $4 mn in funding led by Sixth Sense Ventures

Online test preparation platform Toprankers has raised $4 million in funding round from Sixth Sense Ventures.

The company plans to utilize the funds to introduce new categories such as Study abroad Programmes, Tuition Courses, Career Counseling Programmes and Finance & Commerce Test Prep in the Test Prep segment.

It also plans to hire around 160 teaching and non-teaching staff in the next 12 months.

Toprankers was founded in 2016 by Gaurav Goel, Karan Mehta, and Harsh Gagrani, It offers courses in Test Prep segment focusing on Law, Judiciary Services and State Exams, Management with focus on Design, Fashion and Architecture entrance exams like Central Universities Common Entrance Test (CUET) and architecture exams like National Aptitude Test in Architecture (NATA).

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The company offers these courses under various brands such as Legal Edge, JudiciaryGold, SuperGrads and Creative Edge.

“Our focus is to be a full-stack career company. We are trying to help students answer the what and how to study. NEET (National Eligibility cum Entrance Test) and JEE (Joint Entrance Exam) are not the only career options and throughout the platform, we prove that there are a lot of successful careers,” Gaurav Goel, founder and CEO of Toprankers.

“We started something called toprankers hybrid six months back and we are seeing a lot of traction from it. Setting up offline centre costs anywhere from Rs 50-60 lakh,” he added.

The startup currently has around 10 offline centers under the Toprankers Hybrid brand.

Apart from Toprankers, several edtech platforms including Physics wallah,Vedantu, Unacademy and Byju’s are also in the process of either expanding or building an offline presence.

Also read - [Funding alert] QueueBuster raises Rs 63.3 Cr in Series A round

The company is also looking to make acquisitions in the study abroad and career consulting sectors.

“We are in active discussions with two offline institutes. We are looking at acquisitions in career counselling and discovery, finance and study abroad categories. Our first acquisition will take place in the next 12 months,” Goel also said.

The startup claims to have helped over two lakh students so far and aims to make a career for 10 lakh students in the next three years.

“CUET will potentially create a huge test-prep vertical. Being one of the first movers with an active product enables Toprankers to capitalise on this opportunity”, said, Nimisha Nagarsekar, investment partner, Sixth Sense Ventures.

It has an annual revenue rate of $3 million and plans to double that over the next 12 months.

About Toprankers

Toprankers, launched in 2015, is India’s most preferred digital counselling & preparation platform for careers beyond engineering & medicine. They envision to build awareness and increase the success rate for lucrative career options after 12th. They offer best learning practices and end-to-end support to every student preparing for management, humanities, law, judiciary & design entrances.

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Top Funding Wrap of the Week – 18 Nov – 22 Nov 2024

Indian startups raised capital to expand and become more successful. Here is this week’s Top Indian Startups Funding Roundup – 18 November – 22 November 2024

By Ayushi Jain
New Update
Top Funding Wrap of the Week – 18 Nov – 22 Nov 2024

Indian startups raised capital to expand and become more successful. Here is this week’s Top Indian Startups Funding Roundup – 18 November – 22 November 2024.

The Top Indian Startups Funding Roundup of This Week

Bain Capital

Bain Capital announced it completed fundraising for its latest Global Special Situations Fund, bringing the total amount raised for its second vintage of funds to $9 billion. 

Zepto

Zepto, the quick commerce leader, has raised $350 million from domestic investors at a $5 billion valuation.

HealthKart

HealthKart is an omnichannel nutrition platform has raised $153 million with ChrysCapital and Motilal Oswal Alternates leading the charge. Neo Group and current investor A91 Partners also took part in the fresh round.

VoloFin

VoloFin a supply chain finance firm located in Singapore has raised $50 million in a new fundraising round from a top-five global bank in the US that wants to be anonymous because of a non-disclosure agreement.

Zopper 

Zopper is an insurtech firm based in Delhi NCR, has raised $25 million (about INR 211.2 crore) in a Series D funding round headed by Elevation Capital and Dharana Capital, with Blume Ventures, an existing investor, also participating. 

OneCell Diagnostics

Cancer diagnostics startup OneCell Diagnostics has raised $16 million in Series A funding, led by Celesta Capital, with participation from Tenacity Ventures, Cedars Sinai, Eragon, and Singularity Ventures.

KGeN

Kratos Gamer Network (KGeN), a decentralized gaming platform, has raised $10 million in funding led by Aptos Labs. Polygon and Game7 also participated in the round, increasing KGeN’s valuation to $500 million, up from $150 million in February 2023.

Locad 

Locad is an e-commerce logistics business, has secured $9 million (about INR 76 crore) in a pre-series B investment round headed by Reefknot Investments and Global Ventures.

Billion Hearts

Former Koo Co-founder Mayank Bidawatka’s new venture, Billion Hearts Software Technologies Pvt Ltd, has raised $4 million in seed funding. The round was led by Blume Ventures with participation from General Catalyst and Athera Venture Partners.

CredFlow

A pre-Series B funding round headed by two of CredFlow's current investors, Inflexor Ventures and a Singaporean family office, has collected $3.7 million (about Rs 31.2 crore) for the fintech business.

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Bain Capital , Zepto , HealthKart , VoloFin , Zopper , OneCell Diagnostics , KGeN , Locad , Billion Hearts , CredFlow , are The Top Indian Startup Funding Roundup in This Week (18 November - 22 November, 2024 )

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