Delhi-based tutor-enablement platform XPrep, run by Epsilon Eduventures Pvt. Ltd, has raised an undisclosed amount in a funding round led by the Netherlands-based venture capital fund Rising Stars, the startup said on Thursday.
The round also saw participation from entrepreneurs and investors like Manish Amin, co-founder of travel portal Yatra; Pallav Pandey, co-founder of telephony startup Knowlarity; and Chavi Jafa, head of business solutions, South Asia at payments firm Visa.
The company will use the capital to strengthen technology, expand product offerings, and fill key positions in the team. It is also in advanced talks for a follow-on round of capital, the statement added.
Xprep was founded in September 2015 by IIT Roorkee alumnus Mukul Rustagi and Netaji Subhas Institute of Technology (NSIT) alumnus Bhaswat Agarwal.
XPrep’s platform connects tutors and students on a mobile app and website. It also provides analytics on a child’s performance. Besides, the startup caters to entrance exam aspirants. It claims to have tie-ups with more than 200 institutes across Delhi-NCR, encompassing over 15,000 students within them as paid customers.
The company initially experimented with a couple of models to find a solid product-market fit, and launched the current product in November last year.
“Empowering tutors has to be the way forward. Paying customers and backing from seasoned investors give us more confidence to march ahead fearlessly towards our vision,” Rustagi, chief executive of XPrep, said in the statement.
In December last year, Xprep was selected for Facebook’s FbStart Programme.
The programme is designed to help early-stage mobile-focused startups build and grow their apps. Under the programme, the company had received $40,000 worth of credits and services from Facebook and its partners like AWS, Dropbox, Adobe and MailChimp. XPrep received mentoring from the Menlo Park-headquartered Facebook’s engineering teams.
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