Edtech startup Questt, owned and operated by Reallearning Technologies Pvt Ltd, has raised $6.75 million (Rs 50 crore) Series A funds led by Celesta Capital and Premji Invest.
Existing investor Chiratae Ventures also increased its shareholding in this round. Other existing investors including AET Fund, MarsShot Ventures, Titan Capital, and First Cheque continue to remain invested in the aggressively growing company, the company said in a statement.
The Gurugram-based artificial intelligence education platform plans to use the funds from this round to build deep-tech capabilities to increase its user base, it added.
In March 2021, Questt had raised $1.35 million in a seed round led by Chiratae Ventures, with participation from AET Fund, Snapdeal founders Kunal Bahl and Rohit Bansal, 91springboard founder Pranay Gupta, LivSpace’s Ramakant Sharma, First Cheque and founders of Razorpay.
Founded in 2019, Questt was set up by Akhil Singh, Mohsin, and Rohit Pande. The firm’s platform automates homework assessment for teachers, while gamifying homework completion for students.
Questt’s team comprises experienced educators, technologists, and serial problem solvers, it says.
Akhil Singh, co-founder of Questt, said, “Going forward, Questt will enable predictive and adaptive learning to help students pre-empt the problems they might face in the future. We are excited to have the support and trust of our investors as we build out a unique and comprehensive education data stack that is poised to benefit millions of students and teachers in India.”
"Questt will enable learning pathways for each child on an individual basis - adding to the teacher and tutor’s need to assist each child in their pursuit of learning and overcoming the difficulties on the learning route. Delivering micro-learning at the right time is needed to optimize learning outcomes. We are excited to back this transformative company,” said Sudhir Rao, managing partner, India, Celesta Capital.
“We are not just investing in Questt, but the potential of shaping the future of next-generation minds,” said Atul Gupta, partner at Premji Investment. “The founders embody the true spirit of resilience, innovation, and bias for action that makes what they are building even more special.”
Questt captures thousands of data points for each student, mapping their grasp of concepts, the difficulty level, and cognitive abilities. It also generates insights about concepts, cognitive abilities, and difficulty levels helping create cohorts of students with similar learning abilities and offers post-school learning.
So far, it claims to have answered over 17 million questions on the Questt app in less than eight months, and over 100 million data points have been captured on student learning patterns.
Similar deals in edtech
The edtech market has witnessed frenetic funding and M&A activity in India since the onset of the coronavirus pandemic last year.
This week, VCCircle reported that Amsterdam-based Global University Systems has acquired 100% stake in Indian education firm Edvancer Eduventures Ltd that offers online certification courses in data sciences.
Vernacular edtech platform Vidyakul raised an undisclosed amount in a financing round from Dholakia Ventures and other angel investors. Similarly, Bengaluru-based ForeignAdmits raised Rs 3.5 crore in a seed funding round led by Unicorn India Ventures.
Earlier this month, Unacademy Group-owned Graphy acquired edtech platform Spayee for $25 million
In July, Teachmint Technologies Pvt Ltd, focused on tutor-student connectivity had raised $20 million (Rs 149.4 crore) in a pre-Series B funding round led by global edtech-focused venture capital firm Learn Capital.