EduVision Retail Technologies Pvt Ltd, which runs educational products aggregator Fastudent, has raised an undisclosed amount of seed investment from a group of angel investors led by Evalueserve COO Ashish Gupta.
The funds will be used for expansion of the team, strengthening the technology and increasing geographical reach. The company would also be expanding its product portfolio.
The Noida-based startup was founded by Gaurav Barman and Geetanjali Khanna. Barman is an IIT-IIM alumnus and has previously worked with HCL and Infosys. Khanna has previously worked with Ernst and Young.
The e-commerce platform offers more than 20,000 SKUs across different categories - books and stationery, uniforms, games, sports goods, art and craft products and digital products â€“ targetted at students from playschools to universities. It services more than 20,000 pincodes all across India.
Fastudent was earlier known as Scholarkart.com.
"In the last few months, the team has experimented on the minutest of details, and the understanding of the business they now have, is unprecedented. They are working to enhance and bind the highly fragmented Indian education sector," said Gupta.
"We are working relentlessly to streamline the difficulties students go through on a daily basis," said Khanna.
In the education space, New Delhi-based Smartivity Labs Pvt Ltd, an online venture that deploys augmented reality and robotics for kids learning projects, had secured seed funding of $200,000 from educational textbook publisher S Chand and Co Pvt Ltd.