ExamsGuru, an entity of Bangalore based Padma Infocom Pvt. Ltd. has raised INR 15 lakh capital in angel funding from Simarjeet Singh Khera from GuruKul Online Learning Solutions. The company which started off with funds from friends and family, is now looking for Series A VC funding (between $1-2.5 Million) to further boost its capabilities.
The portal was founded in December 2009 by Rahul Jain, Vikas Jain and Prateek Bhowmick as a one-stop solution for technology enabled training. Rahul holds an MCA and has worked at Nucleus Software, while Bhowmick has worked in Risk Management and Investment Banking and holds a BCA degree. Vikas holds a BE from Amravati University and has worked at Panit Communication and Birla Soft.
The company provides online virtual classes and live sessions with experts and ex-Professors and has tie-ups with publishers, coaching institutes and colleges for content and other materials. The company is based out of Delhi and currently has a small team but is planning to increase the headcount to increase its capabilities and service delivery.
Speaking on the occasion, Prateek, said, “With the initial funding in place, we now expect a 25% growth over the next 5 years with expected revenues of over $8 million.” The company is buoyant about the ICT enabled tutorials market in India (currently about Rs.350 Crores) and sees Andhra Pradesh as a leader in the segment.
Simarjeet Singh Khera, who provided the Angel Funds, has worked at Frost & Sullivan as the director of healthcare for the APAC region and has worked at Quintiles Transnational, a pharmaceutical company.
Some other portals catering to the student community are allexamsguru, btechguru and bestguru. Though a number of portals have come up in this space, there is no clear winner primarily due to poor features and lack of updated and relevant content.