EduRev, Indian EdTech startup based out of Gurgaon has raised an undisclosed amount in Pre Series A funding from Pradeep Reddy Kamasan, An Angel Investor from Hyderabad. Earlier, there were rumors that the startup was looking to raise $1 Million.
The investment before the scheduled Series A round comes as a strategic one. With this development, Pradeep will help EduRev in acquiring more customers in the southern region.
The raised funds will be used for user acquisition and implementing a new model to help the colleges in the admission procedure. Also, it is planning to launch more courses on the app which is in beta stage with around 4000 downloads.
EduRev is also planning to work on the no-textbook approach by providing tablets to the college students with its technology in the background.
EduRev was started in May 2015, with the pilot phase ranging from March-April. It works as a crowd-sourced platform where students and teachers can submit the course material. It can then be accessed by the network of students and teachers.
Started in Chandigarh, the startup has its presence in New Delhi, Haryana and Pune as well. It currently boasts of over 40,000 students, 100 courses and 70,000 documents. With 24 clients, it reached to a revenue of 14 lakhs in the last financial year.