Ahmedabad-based edtech company Prepseed has secured seed funding of Rs 2 crores from a Chiripal Group of Companies. The company’s investment was raised at Rs. 10 crore valuation.
Co-founded by Vivek Kankaria, the Prepseed platform helps over 1.5 lakh students and 230 educational institutions across India, via coaching academies, schools, and colleges.
“We are delighted to receive the seed funding, and the resources will be utilised for advanced AI and machine learning technology, allowing educational institutions and students to identify better and address the difficulty levels of the students’ vis a vis their courses and subjects,” Vivek said.
Vansh Chiripal has now joined the board of the company.
Prepseed began as a tool to help competitive exam candidates analyse their performance using AI technology. It aids students in their preparation for competitive exams such as IIT-JEE, NEET, SAT, and others, as well as educational institutions such as KG–12 grade: CBSE, Cambridge, IB, IGCSE, and various State Boards.
Allen Institute for Careers, JNV (Jawahar Navodaya Vidyalaya), Resonance, Reliable Institute, Dakshana Foundation, Vyas edification etc., are using Prepseed’s Learning Management System (LMS) and/or Enterprise Resource Planning (ERP) services.
According to Vivek, technology helps perform tasks that take time and financial resources.
“No one should be denied an education because they lack resources, particularly in the age when technology is available to each and all. Education is not about how hard you work; it’s about how smart you work,” Vivek said.
The application version for mobile phones and tablets for the students, teachers, admins and management has also been developed and is under the testing stage.
Prepseed has a vision of attempting to make education more horizontal through technology, trying to provide the same opportunities to private and public institutions. The next step is to digitise institutions, particularly in India, to bridge the gap between teachers’ and students’ potential.
