Test prep startup Toppersnotes announced it has raised $1 million in a Seed round led by Inflection Point Ventures. The round also saw participation from LetsVenture, PlanB Capital, Pulkit Agrawal (CEO - Trell), Ashish Sharma, (MD - Innoven Capital) and other notable angels.
Toppersnotes is an education initiative by IIT Bombay alumnus. The team saw a huge gap in the quality of solutions in the market across the price spectrum. Being toppers themselves and with the constant engagement with teaching faculties, the team has realised “Phygital” solution to bringing coaching-like-quality at a low price.
With the Phygital solution (to be scaled in the next 6 months), students will have access to personalized content delivery, enhanced performance tracking and guidance in terms of personalized revision planner and learning schedules. To bring personalisation features and guidance to the study table, the team will be leveraging AI/ML and NLP algorithms on top of their deeply structured learning data of the students.
Their phygital solution currently offers physical notes for learning and tech-based app platform for test prep. Solution is an efficient and exam centric version of books with structured content in the form of knowledge units.
Mitesh Shah, Co-Founder, Inflection Point Ventures says, “Prepping for competitive tests is one of the most important journeys in a student life cycle as they decide the direction of one’s career. While metros offer many options to students, it is the smaller cities where we have seen the gap in the quality of mentoring and preparation of exams. Toppernotes is solving this problem for the audience, which is a far bigger market than the metros and immensely underserved.”
Ayush Agrawal, Founder, Toppersnotes says, “With personalized learning, guidance and performance analytics features, we will disrupt the test prep space, where students, even today, rely heavily on textbooks, far distant coaching and local tutors. We intend to leverage technology and content to reduce the service layer present in the education industry thus democratizing education and making it affordable for everyone. IPV got co-aligned with our vision; with their mentorship and support, we would be able to define how tier 2 and below students will learn, despite low family incomes.”
EdTech has become one of the fastest-growing industries in recent times with test prep as the fastest growing category in online education. More than 8 crore students prepare for more than 600 exams every year with more than 60% of these students residing in small towns and face affordability issues during their preparation. The market is huge and fragmented which Toppersnotes is trying to disrupt by creating a comprehensive and affordable solution.
