Indian Education Startup, Toppr, which provides an online solution to prepare for tests has acquired another education startup from the country, Manch. This is the second acquisition by Toppr in less than a years time.
Manch, an EdTech startup started by Alumni of IIT Bombay, Rajshekhar Ratrey, Aadil Shah and Vikas Verma in 2013 is an educational platform which lets users make use of inbuilt recommendations and analytics.
Talking on the development, Zishaan Hayath, CEO – Founder of Toppr said that both the startups are having good knowledge of the users and the market. The main reason for Toppr to go behind Manch was the fact that both the startups share the same approach and Manch is doing it with a little better technology. Together, both the startups and the teams can build something unique and better.
Along with that, he further added that Manch brings in a lot of research and analytical efforts which will be beneficial in the long run. Manch has been quite efficient in terms of product, technology, design and engineering. Also, sharing the same targeted customers will help both the teams to work in an efficient manner.
India has a huge market for entrance exam preparation which is valued at $8 Billion with a growth rate of 20% every year.
In 2015, Toppr had raised a couple of rounds of funding. In May Toppr had raised $10 Million by Fidelity, Saif Partners and Helion Ventures. In October, the startup had raised $2 Million from Innoven Capital.