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India’s edtech startup Adda247 raises fund in Series B round

Adda247 has raised US$6 million in its Series B round led by Infoedge and Asha Impact with the participation of existing investor STL.

Adda247 is the largest Indian-based edtech platform catering to more than 40 million users in a year. It is focused on the government job test prep segment. Adda247 app acquired the title of being the #1 Android App in terms of usage among all Education Apps in India.

The edtech startup recently secured a US$6 million in its series B funding round led by Infoedge – an information technology service firm and impact investment firm Asha Impact. STL, an existing investor of Ada247 also participated in the said funding round.

The company plans to use the new fund to broaden its exam category offerings, add more languages on its platform, and further develop its presence in the region. Here are some of the flagship products that Adda247 has to offer:

  1. Adda 247 Mobile App (Android): It is a comprehensive education app that contains Articles, Job alerts, Quizzes, Videos, E-books, e-Magazines, discussion forums tec. It was declared as the second largest edtech app in terms of usage in India.
  2. Bankersadda.com: According to similarweb.com, bankersadda.com is India’s #1 Educational Website. It contains study materials, videos, and quizzes related to bank job exams in India.
  3. SSCAdda.com: This portal focuses on exams conducted by Staff Selection Commission for various central government jobs.
  4. TeachersAdda.co.in: This portal focuses on Teacher’s Eligibility Tests conducted in India for different teaching jobs in government schools.
  5. Adda247 Youtube Channel: Adda427’s channel is one of the most popular and most visited channels in India. It delivers videos related to current affairs, government job vacancies, subject learning. Motivational and live game shows.

Adda247 has been operating in India for 10 years now and claims that it already trained more than 100 million students. It was founded by Anil Nagar and Saurabh Bansal in 2010. “Adda247 is a household name, especially among our target audience. Last year, more than 90% of the selected candidates in government jobs (banking and SSC categories) use one or the other Adda247 service for exam preparation,” said Anil Nagar Co-Founder and CEO of Adda247.

“With more than 40 million users in our platform and more than 3 million Daily Active Users (DAU), Adda247 is the most used online education platform in India. More than 60% of our users come from Tier III cities and small towns, and that is where we are seeing unprecedented growth and engagement. The funds will be used to expand to new exam categories, creative vernacular capabilities, and build a world-class product,” Nagar added.

The application is available in both online and offline platforms.

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