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Funding alert- An interesting EdTech startup raises funding of USD 6.75 million

Let us talk about the edtech industry and startups working in that. Edtech consists of two words- education and technology. It is the method of introducing IT tools into the classroom to create an engaging, personalized, and inclusive experience of learning for the students. It not only consists of hardware and software that make it possible for students to do remote learning, but also the research and theories into the most effective ways to teach people the new concepts and skills.

The COVID 19 saw the rise of the edtech industry in the country when all the schools and colleges were closed. Many new startups have come up in the edtech industry in the country and today India has around 3,500 edtech startups. The report published by KPMG in the year 2021 said that the edtech industry of the country could be worth USD 1.96 billion.

questt funding: questt raises $1.35 million in seed funding led by chiratae ventures - the economic times

Some of the famous edtech startups in the country are- Byju’s, Unacademy, Class plus, Pesto, Doubtnut, and many more. Investors nowadays are preferring a lot of startups in the edtech industry, as they know and understand the growth potential this industry has.

Advantages of edtech model

We all know that each student has a different pace and speed to learn. With an edtech model, every student has the opportunity to learn and understand concepts and topics according to his convenience. Thus, it ensures that students are not forced to be in the same position as others, thus making sure that the concepts are well understood and not just run away with.

Another advantage of the edtech model is that it is available 24*7. The recordings are with the students and can be referred to later while doing their work or a project. This advantage is very helpful for even those people who are working as well as studying. Through this, they can concentrate both on work and studies.

It has led to a reduction in cost, thus ensuring that with less investment huge and amazing results can be achieved.

Announcement of funding of an edtech startup

The edtech startup, Questt has raised funds worth USD 6.75 million (which is almost equivalent to INR 50 crore), as announced on October 21, 2021. The round of funding was the Series A round of funding and was led by Celesta Capital and Premji Invest.

The other participants of this round of funding were the existing investors of the startup- AET Fund, Titan Capital, First Cheque, Chiratae Ventures, and MarsShot Ventures. In this round of funding, the investor Chiratae Ventures has increased its shareholding in the startup.

The startup plans to use the funds raised to build its deep tech capabilities with the aim of increasing its number of users. This round of funding has come after the startup had raised USD 1.35 million in March 2021 in a seed round of funding which was led by Chiratae Ventures.

About the newly funded startup

The startup, Questt, was founded in the year 2019 by Akhil Singh, Mohsin, and Rohit Pande. It was then named Realearning.in, which was an AI-based solution for handwritten answer sheets. The startup was started with the aim to help teachers conserve time and energy using technology. It was started with a dream to realize the potential that technology has in supporting teachers and students in their journey of growing and learning. The platform has been designed by the educators for the educators. The startup gamified the ecosystem for the students because it is of the belief that “play is where our young minds are at their creative and generative best.

The team of the startup consists of experienced educators, technologists, and serial problem solvers. The startup, Questt, is the result of years of observation, research, and empathetic, human-centered design.

edtech startup questt raises ₹9.6 crore led by chiratae, aet fund

The startup works for the benefit of both teachers and students. It has some attractive features which look so attractive to the users.

It has those eye-catching benefits which cannot be missed. The benefits for teachers are-
One-tap Homework- The teachers have the opportunity to choose from more than 10,000 readymade homework/questt cards or they also have the chance to open one.

Objective and Subjective Questions- The question bank framed by the startup is formulated with a rich variety of questions type, which is not just MCQs. Any type of task can be assigned as homework. Even subjective questions can be assigned and checked in a few easy taps.

Actionable Insights- The startup allows teachers to go beyond right and wrong answers with the help of Questt analytics. It helps in identifying gaps in student learning and design which is focused on efficiency and giving support to the students.

The platform of the startup keeps the problems of the students in mind. The benefits for students are-

Gamified Homework- The startup makes sure that the students don’t feel bored while doing their homework. It gives an opportunity to the students to join their friends in the daily adventure as they power through self-study and learn like never before.

Self-Practice Support- The platform of the startup allows the students to do tasks that are assigned by the teacher and explore and learn from thousands of curated tasks that are free, effective, and are fun guaranteed.

From Marks to Mastery- The startup aims at helping students to learn and grow. It encourages students to go beyond the marks and identify what they need to learn to achieve their maximum potential.

Questt Analytics is engaged in analyzing student responses and documents learning data meaningfully. The analytics displayed helps the teachers in making the right decisions, and plan accordingly for the classes on the basis of the right data.

The edtech startup has the target to achieve more than 3 million students by March 2022. The startup is free for all, and it is expected that it will go for a subscription in the coming three to four months in order to monetize the platform.

About the founders of the edtech startup

Akhil Singh is the co-founder of the startup, Questt. He is a BITS Pilani alumni and has co-founded startups in logistics, tech, and media tech before he realized his passion was in transforming education. He is a strong follower of meditation and trekking.

Mohsin is the co-founder of the startup, Questt. He has built tech products in healthcare, social media, and edtech. He is good at making stuff, from enterprise and consumer-facing tech products to DIY smart speakers and even cakes and cookies.

Rohit Pande is the co-founder of the startup, Questt. He is an edtech veteran and has been transforming edtech for the last 2 years. He is an alumnus of IIT Delhi and IIM Calcutta and is also a marathon runner.

about questt, people, management team, founders ― questt

The startup is doing good, and is meeting the needs of today. We wish the startup good luck and a bright future ahead.

EDITED AND PROOFREAD BY: NIKITA

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