Ed-tech startup GuruQ said on Tuesday that it has secured Rs 2.5 crore (around $330,000) in a pre-Series A funding round from a clutch of high net-worth individuals (HNIs) it did not name.
The Delhi-headquartered company said that it would use the money for expansion and to market its product.
Founded by Minal Anand in 2016, GuruQ operates a platform for online and offline tutoring for primary, secondary, higher secondary and undergraduate courses.
Students and parents can use the platform to look for tutors in their locality and make an informed choice based on past reviews and ratings. GuruQ also helps them manage timetables and assess progress.
GuruQ says its helps tutors connect with students, gain recognition, manage time efficiently and increase earnings.
The startup had raised an undisclosed amount in seed funding round last year.
With the latest fundraise, GuruQ aims to expand its operations in Punjab and Haryana. It plans to offer services in cities such as Ambala, Rohtak, Karnal, Meerut, Hisar, Ludhiana, Amritsar, Jalandhar and Chandigarh.
“This funding is a significant milestone in allowing us to expand the business, strengthen development and create value in the market with new features,” said Anand.
Deals in the space
A number of ed-tech startups have raised funding in the recent past.
Last month, a media report stated that Bengaluru-based Think and Learn Pvt. Ltd, which operates ed-tech unicorn Byju’s, had raised $100 million from growth equity firm General Atlantic at a valuation of $2 billion.
In the same month, Jaipur-based experiential learning startup SRJNA raised an undisclosed amount from social-impact investor Gray Matters Capital’s edLABS initiative, angel network Keiretsu Forum and SucSEED Venture Partners.
Despite growing investor interest in the space, a recent TechCircle analysis showed that scalability, profitability and unit economics remain challenges for ed-tech startups.