Genext Students -- India’s first hybrid ed-tech tutoring platform -- said on Monday that it has raised equity financing of Rs 1.4 crore (~$ 200,000) from 1Crowd, an ecosystem for startups. This is the first part of the company’s larger plan to raise $ 1 million.
A leading company in the Indian ed-tech space, Genext Students offers a combination of the best of private home tutoring and technology-enabled learning panning across the curricula of major national and state level educational boards -- CBSE, ICSE, Maharashtra Board, Rajasthan Board and Uttar Pradesh Board in English as well as Hindi languages.
Through the funds infused, the company seeks to further strengthen its technology and augment its marketing activities. Plans are also on the anvil to create a robust team of dynamic professionals who would bring in their rich expertise to bolster the company’s future. Genext Students envisions being the leading ed-tech hybrid tutoring services provider in the country having a pan India presence within the next couple of years’ time.
"The path to a society with access to high quality, convenient, inexpensive and ubiquitously available education makes for utopian narrative. Genext Students is an extremely interesting startup, a vehicle ready to carry us on that path. 1Crowd has not only raised capital but importantly has worked closely with the founders in shaping the business model and providing strategic guidance." said Anil Gudibande, co-founder 1Crowd.
Ali Asgar Kagzi, Co-founder, Genext Students, said, “The funds will be used to accelerate product-technology development and enhance our marketing efforts. We also plan to strengthen our core team. We are all geared up and determined to achieve rapid growth in coming months. ”
About Genext Students:Genext Students – India’s first hybrid ed-tech tutoring platform for school students -- offers a one-of-its-kind combination of the best of private home tutoring and technology-enabled learning. It was launched in the year 2013 by Ali Asgar Kagzi and Asad Daud. The company is the first to introduce content in Hindi language for the state boards of Rajasthan and Uttar Pradesh. It has over 6,00,000 users and more than 700 tutors on its platform.
The company was listed among the top 40 ed-tech startups in the entire Asia Pacific region by Startup Daily in 2015 and was nominated for Red Herring Top 100 Asia awards in the same year. This year again, Genext Students has been nominated for Red Herring top 100 Asia awards. Kagzi and Daud were also feted by the Rajasthan Government when they were awarded under the Yuva Udyamita Protsahan Yojana scheme aimed at promoting budding entrepreneurs.
