Edtech startup Testbook has raised an undisclosed amount of funding from education content provider, S Chand and Company.
Founded by IIT alumni Narendra Agrawal and Ashutosh Kumar, Textbook focuses on online test preparation for competitive exams.
The Mumbai-based startup aims to build a personalised one stop solution for all competitive exams in the country including Bank PO, IBPS LIC, UPSC, SSC GATE, the company said in a statement.
"Testbook currently has close to 4 lakh users and over 1 lakh downloads on its mobile app and has conducted over 7.5 lakh tests in its platform. This association with S Chand will help expand our reach and enter into new markets," Kumar, who is the co-founder and CEO of Testbook, said.
The S Chand Group, managed by Dinesh Jhunjhnuwala (Vice Chairman) and Himanshu Gupta (Joint Managing Director), is one of the largest content and service providers in the Indian education sector, publishing around 35 million textbooks. It delivers over 4,000 hours of e-content to 20 million students annually.
It has been investing in the fast growing ed-tech space with a presence in tablet-based content delivery, online tutoring, and online test preparation for government and PSU entrance examinations. It has completed five transactions since 2014.
In November last year, S Chand had raised USD 27 million (about Rs 179 crore) financing from IFC, a member of the World Bank Group, and existing investor-the Everstone Group.