Ahmedabad-based edtech startup Prepseed has raised Rs 2 crore in a seed funding round led by the Chiripal Group of Companies at a valuation of Rs 10 crore.
The startup was founded by Vivek Kankaria and claims it helps over 1.5 lakh students and 230 educational institutions across India via coaching academics, schools, and colleges.
Commenting on the development, Vivek Kankaria, Co-Founder, Prepseed said, “We are delighted to receive the seed funding, and the resources will be utilised for advanced AI and machine learning technology, allowing educational institutions and students to identify better and address the difficulty levels of the students’ vis a vis their courses and subjects”.
Vansh Chiripal, who has joined the Board of the company, said, “The gap in India’s educational sector must be filled by revolutionising technology in the right direction. India has a large population; not all teachers have the time and/or resources to cater to each student with the same importance to all and to understand & determine what their educational pros and lacunae are. Prepseed had been successfully assisting the faculties on the same lines and further facilitated in filling this gap by introducing digitalization into the operations of educational institutions. This helps subscribers to Prepseed save resources and time while ensuring optimal growth of the system.”
Prepseed began as a tool to help competitive exam candidates analyse their performance using AI technology. It aids students in their preparation for competitive exams such as IIT-JEE, NEET, SAT, and others, as well as educational institutions such as KG–12 grade: CBSE, Cambridge, IB, IGCSE, and various State Boards.
Allen Institute for Careers, JNV (Jawahar Navodaya Vidyalaya), Resonance, Reliable Institute, Dakshana Foundation, Vyas edification etc., are using Prepseed’s Learning Management System (LMS) and Enterprise Resource Planning (ERP) services, the company claims.
According to Vivek, technology helps perform tasks that take time and financial resources, which is why Prepseed.com. The company is in the beta phase of developing software enabling administrators to perform all necessary admin tasks on a single screen to eliminate the resource and financial waste in the heavily manpower-driven Indian education sector. With the help of AI, it will be possible to comprehend what is required for each educational institution and make the process simpler and faster.