Online exam preparation site Testbook, has secured INR 1.5 crore led by a Delhi based investor, Utsav Somani and MD of Carlyle Group, Shankar Narayanan along with other angels from different sectors. The fund raising round was facilitated with the help of LetsVenture and Ah! Ventures.
Testbook will use the raised funds for its growth strategy, improve the product and increase its user base.
“What I liked most about Testbook is the fact that it is being guided by a dedicated team which is moving fast towards their mission of making a mark in the traditional test prep market through their solid online product.“ said Utsav Somani.
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Testbook is an EdTech company founded by IIT graduates with an aim to provide better online learning experience. Currently, the company claims to have 53000+ registered users with its user base growing at 35% month over month. The site provides a variety of mock tests for entrance exams including GATE and CAT.
The other players also included in this space are Toppr, which has raised USD 2.2 million from SAIF Partners and Helion Ventures; and Embibe which raised USD 4 million from Kalaari Capital.