Mumbai-based Individual Learning Pvt Ltd, which owns and operates Embibe.com, an online test preparation portal specialising in engineering entrance exams, has acquired 100Marks, a student guidance platforms for JEE mains, JEE advanced and medical exams, in a cash plus stock deal, as per a company statement. The financial details of the deal were not disclosed.
“In acquiring 100Marks, we have not only added a JEE prep guidance platform, but also committed young entrepreneurs to our team,” said Aditi Avasthi, founder and CEO, Embibe.
“Both Embibe and 100Marks share a common vision of helping students score higher, and it was only logical for the two to come together,” added Pradeep Kumar, founder, 100Marks.
Founded by Aditi in 2012, Embibe focuses on technology, analytics and content to get the most important information at the right time and the right place to students. An MBA from Chicago Booth, Aditi has earlier also had stints at consulting firm Bain & Company and Barclays, where she worked across the mobile commerce and payments space.
The platform caters to JEE, BITSAT, AIPMT, CET and AIIMS students. According to the company, over three lakh students have already appeared for its question papers. In terms of pricing, it costs Rs 12,000-Rs 16,000 for students.
Last year, the company had raised $4 million in funding from early-stage investor Kalaari Capital, and newly formed venture fund Lightbox.
100Marks was founded by Kumar, an IIT-ian, who has previously worked at Agilent Technologies as a senior R&D engineer. It is used by students of IIT-JEE particularly for doubt resolution. The platform guides students in their self-study through gamified adaptive practice and prompt exam news & updates.
There have been several startups in the online education space who have received attention from investors. Learning Edge Academy of Professionals Pvt Ltd (LEAP), an e-learning, educational technology platform, raised an undisclosed amount in angel funding from Sarthi Angel Venture Foundation (SAVF). Another education products & services startup Skyfi Labs Pvt Ltd also raised an undisclosed amount in funding from Chennai Angels, with participation from Spark Capital.
(Edited by Joby Puthuparampil Johnson)