Edtech company Classplus has revealed a strategic investment of an undisclosed amount in state government exam preparation startup GyanLive, located in Gujarat. In order to provide exam prep courses to candidates for state government jobs, Taral Patel, Mahesh Ahjoliya and Chetan Patel started the firm in Gandhinagar in 2019. The startup says it has been profitable since the beginning, but according to the sources, it was unable to confirm it as the company hasn’t submitted its financial statements.
GyanLive intends to use the money acquired from Classplus to expand into school test preparation in regional languages as well as national-level government career exams. The startup intends to enhance its tech stack by utilizing Classplus’ technology for its expansion. “Over the last few years, GyanLive has solidified its position in the government exam preparation category in Gujarat, and this partnership allows us to broaden our impact and make our learning solutions available to more and more students in India,” Taral Patel said.
According to Classplus officials, the initiative is another step toward their goal of providing technology to learners, educators and content producers throughout India. In 2018, the company was established as a full-stack mobile learning management platform for educators. Some of its backers include Blume Ventures, Alpha Wave Ventures, Peak XV Partners and Tiger Global.
The educational technology company has invested in a number of other educational technology companies over the years, including Abhay Maths, Saarthi and Testbook. Due to the growth in business Classplus’s operating income nearly quadrupled to INR 102.04 Cr in FY23.
Read More: https://educationviewindia.com/
