Bengaluru-based edtech startup Edvizo has raised US$ one million in a Pre-Series A led by Inflection Point Ventures, one of the largest angel investment platforms in India.
The funds raised will be used to enhance the technology stack, acquire more users, strengthen the tech and sales team and expand to more cities. Edvizo has tie-ups with 2,950 institutes, 57,500+ enrolments and 1,20,000+ registered users on their platform.
Edvizo has been a part of Facebook’s startup program in 2019 and was the winner of IIT Guwahati’s National Level Startup Competition in 2020. Along with this, the startup has received due recognition by the Deputy CM of Karnataka and has also been honoured to receive the support of the Union Education Minister to carry on its initiatives.
Vinay Bansal, Founder and CEO, Inflection Point Ventures said, “Education is a serious business. Every year parents spend millions of dollars to find excellent schools, coaching institutes and counsellors for their children. Students continuously look for guidance and support, either within their network or seniors. Edvizo has successfully organised a big chunk of this grind by bringing in a systematic and a marketplace approach for selecting the best institutes. This is our second round of investment in Edvizo as we are excited to see the scale they have achieved in the last one year and want to back them for their growth plans.”
Ravi Nishant, Founder and CEO, Edvizo and a dropout from IIT Guwahati says, “The current fundraise comes at a crucial point in our journey as we are seeing significant traction – both on the students and courses’ providers’ side. The funds raised will help us grow our capabilities both from tech and business perspective and also enable us to scale exponentially. We are fortunate to have such ambitious, visionary investors on board with us.”