Prozo.com, an online market to buy and sell book and other study material, has raised seed funding of $205,000 from many investors that include Nalin Jain, president and CEO of GE’s transportation businesses; Shomil Pant, head strategy at Wockhardt Pharmaceuticals; Dinesh Kundu; an unnamed McKinsey & Co director and other angel investors.
Founded in 2015 by Dr Ashvini Jakhar and Jerry Jose, the startup Prozo is an aggregator and marketplace for all types of exam preparation content and mentorship programmes. The idea for the startup popped out when he personally faced some pain points while preparing for the competitive entrance exams. Jakhar said, “Students appearing in highly competitive exams such as CAT, GMAT, Medical, engineering etc face a lot of challenges around ‘selection of right resources’ and ‘finding personal mentors.’ We are solving these pain points through www.prozo.com.”
Prozo aims to operate as a search engine and a marketplace where a student can find and buy resources like books, e-learning content, coaching material and personal notes. It also has features that allows students or aspirants to seek the help of the peers who have previously cleared the exams. Apart from the peer-to-peer mentorship programmes, the website also holds features like review mechanism, rating system for the materials and blogs.
With the new funds, the company plans to invest in talent acquisition, marketing and mobile app development.”Smartphone penetration among our target segment i.e students is very high so it is natural next step for us to engage them through mobile application,” said Jakhar.
The company has already partnered with around 40 content providers like Aakash Institute, CrackVerbal, Brilliant Tutorials, Plancess, learnpedia, Meritnation and Toppr.com to sell on it platform. It’s working to add more content providers to its platform. Also, over 250 mentors from top institutions have registered on the site for the benefit of the students.
The edutech startup market has been creating and attracting huge interest among the investors. So many startups like US-based Coursera, India-based Suphalaam Technologies and many more have attracted big investments recently.