InstaPreps raises seed round funding at an undisclosed amount
InstaPreps by 7Classes, a diagnosis-based Artificial Intelligence (AI) edtech platform, has raised an undisclosed funding in a seed round from heads of a few global universities, CXOs and top executives at the Ministry of Skill Development and Entrepreneurship. The startup plans to utilise the funds to expand its app InstaPreps, ramp up its marketing activities, enhance its technology and add new features to current approach towards education.
According to the institution, the object behind the current fundraise is to focus more on AI and Deep tech algorithms and use advanced technology to build and leverage features which includes confidence facial recognition, improve and automate processes for a seamless learner-service provider experience, instant teacher matching to students based on their confidence scores.
According to Anup Raaj, co-founder, InstaPreps, the institution is looking forward to launching courses in Hindi on financial literacy for women to highlight the importance of investment in education. “We are keen to have an early move in the emerging markets of rural areas which will be unlocked in the immediate future due to advances in generation, energy options, internet connectivity and smartphone penetration,” Raaj said.
Some of the lead investors include Sanjay Nawlakha, chairperson of Department of Finance, University of Massachusetts, advocate of Deep Tech for Women empowerment, Soumitra Dutta, founder of Global Innovation Index, dean at university of oxford and INSEAD, honoured chair in AI IIT Delhi, Manish Bharti, CRO at CoreStack, and Venkatesh Sarvasiddhi, head partnerships and CSR, NSDC, Ministry of Skill Development and Entrepreneurship.
The startup prepares students for competitive entrance exams at K-12 level and also focuses on exams including GMAT, GRE, SSC, UPSC, CAT, placement tests and upskilling programs.