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Edtech startup Ednovate raises undisclosed amount in Series A funding

It intends to use the funds for its expansion plan in order to scale operations across India and globally

FPJ Web Desk | Updated on: Friday, May 13, 2022, 03:12 PM IST

Ednovate began operations in March 2021 as a platform for Commerce students.
/Logo |
Ednovate began operations in March 2021 as a platform for Commerce students. /Logo |
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Edtech company Ednovate recently announced that they have raised Series A funding from Dr Vinay Jain, Chairman Witty Group of Institutions,angel investor Ajay Sarupria and Kaushik Mehta.

Ednovate intends to use the undisclosed funds for its rapid expansion plan in order to scale their operations across India and globally. It already has four physical branches in Mumbai, an online presence in over 10 cities, and plans to have a PAN-India presence within the next three to four years.

Ednovate began operations in March 2021 as a platform for Commerce students with the goal of providing a one-stop shop solution to students and guiding them through their entire CA journey.

Speaking on the latest round of funding, Ashish Shah, CEO, Ednovate said, ”I want to build a self-sustainable profit-making business for my investors and I am very excited to bring on board Dr. Vinay Jain, Ajay Sarupria and Kaushik Mehta and look forward to their guidance, mentorship and support."

Investor speak

Dr. Vinay Jain, Chairman, Witty Group of Institutions said, “Investing for me, personally, is about the team and I think the team has the potential to make this Company as the next unicorn in the edtech space.”

Ajay Sarupria, “The team has clarity of thoughts for their phase-wise realistic expansion plan which I think is very important for any start-up to grow.”

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Published on: Friday, May 13, 2022, 03:12 PM IST