Indian edtech firm Pariksha bags $2m in pre-series A round

India-based edtech startup Pariksha announced it has raised US$2 million in a pre-series A round led by Bharat Inclusion Seed Fund. Other backers including LetsVenture Plus, 9Unicorns, Innercircle, Insead Angels, and Venture Catalysts also participated in the financing round.

The company added that it’s in talks with domestic and foreign funds to raise US$10 million in its series A round.

Pariksha founders (from left to right) Karanvir Singh, Deepak Choudhary Utkarsh Bagri, and Vikram Shekhawat / Photo credit: Pariksha

Pariksha helps those who are looking to work for the government prepare for job application exams in the language of their choice through online classes, free daily tests, mock-test series, preparation strategies, and mentoring.

The edtech firm operates across 11 states in the country and provides its services in six languages. It also has over 3 million registered users, with more than 100,000 paid subscribers.

Funds raised from the financing round will be used to make the company’s product more inclusive and expand its reach with a focus on system intelligence.

“Bharat aspirants are very unique in their approach toward preparation. They need a product that is relevant to their mind-space,” said founder Karanvir Singh.

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Pariksha is set to capitalize on the growing edtech market beyond K12 education, which is projected to hit US$1.8 billion in value by 2022.