Online competitive exam preparation platform ixamBee has raised Rs 5 crore in its pre-Series A round led by Inflection Point Ventures (IPV). Other angel investors, including SAN Angels, existing investors of Mumbai Angels and Keyur Joshi, co-founder of MakeMyTrip also participated in the funding round.
The fresh funds will be used in marketing, content development, and technology, the company said in a press release.
Vinay Bansal, the CEO of Inflection Point Venture and the company’s creator said, “One of the fastest-growing ed-tech markets is the one for higher education, which is still expanding. The market opportunity for ixamBee is expanding as thousands of candidates take competitive exams each year. Such tests require nothing less than a relentless focus in the preparation process. Millions of students benefit from ixamBee’s access to exam papers and study materials as they become ready for the workforce. We decided to invest in the company because we share the goals of their business”.
Founded by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh, ixamBee’s flagship product enables students to prepare for recruitment exams at RBI, SEBI, NABARD, public sector banks, insurance companies, SSC, and other PSUs, among others.
ixamBee Learning Experience (iLX) is a combination of a comprehensive range of study materials, practice tests, and interactive learning tools.
In addition to its online platform, ixamBee offers classroom coaching and test series programs for students who prefer a more traditional learning approach. These programs are conducted by experienced faculty members and are available in select cities across India.
Previously, ixamBee had received undisclosed amount in debt round from Caspian Debt in January 2022 and $300K in seed funding co-led byJain International Trade Organisation (JITO) Angel Network and Mumbai Angels in April 2021.