EduAce Services, a co-scholastic learning partner for schools, has raised $1 million in its seed round of funding from MoMagic, a New Delhi-based mobile internet market and app ecosystem major.
The capital raised in this round will be utilised by the company to build more school learning programmes, in addition to expanding operations across India, said Gaurava Yadav, founder and CEO, EduAce Services.
EduAce Services works with schools and students on their co-scholastic learning needs. It claims to have already covered over 2500 schools in 25 tier 2 cities across Uttar Pradesh, Uttarakhand and Madhya Pradesh. By December-end this year, the company plans to get 150 schools subscribing to its G-QAT module.
Its fundamental aim is to expand its outreach to 10 States, reaching close to 7,000 schools, with 10 lakh students writing their SQL prelims. At present, this number stands at 2.5 lakh students. However, for Gaurava, the focus will continue to be Tier II cities. He says,
We believe that we are most relevant in Tier II towns and will not move away from that proposition. People often think that metros are the place to be for disruption. But it is essential to understand that the majority of users lie in these Tier II townships. According to me, the real growth is here and people should actively evaluate this as an option.
The company’s products include School Quiz League – Pratibha Ki Khoj, a state-centric quiz programme for school students; Daksh, a skill development programme for students and teachers; classroom Edu Fairs; and school excellence awards.
A number of ed-tech startups have raised funding in recent months. Earlier this month, iDreamCareer.com raised an undisclosed amount in pre-Series A funding from Brand Capital. Other startups who raised funding include Prepathon, Vahan, Oliveboard, etc.