Total amount raised
$61.2 Millions
Latest funding date
10/1/2022
Location
Adda247 has successfully raised funds through multiple rounds, including a Series B round closed on October 1, 2022. The platform offers a wide range of educational resources, catering to various competitive exams and educational needs.
Keep reading to explore the intricacies of Adda247's fundraising journey and the investors backing this innovative platform.
What Is Adda247?
Founded in 2010 by Anil Nagar and Saurabh Bansal, Adda247 is an edtech platform based in Gurgaon, Haryana, India. The company offers a variety of educational products and services, including online live classes, test series, video courses, e-books, and printed books.
Initially starting as an offline coaching center in Delhi, Adda247 has grown to become one of India's leading online coaching institutes. The platform caters to a wide range of competitive exams and educational needs, making it a comprehensive resource for students.
With a team of 501-1000 employees, Adda247 continues to innovate and expand its offerings, ensuring that students have access to high-quality educational resources. The company's journey from a small coaching center to a major edtech player highlights its commitment to education and student success.
How Much Funding Has Adda247 Raised?
- Series B
- Amount Raised: ₹2.8B
- Date: October 2022
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand offerings and market reach, particularly in the K–12, JEE, NEET, and GATE markets.
- Series B
- Amount Raised: ₹1.5B
- Date: November 2021
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and enhance educational resources.
- Series B
- Amount Raised: $6M
- Date: November 2019
- Lead Investors: Asha Impact
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and improve technological infrastructure.
- Secondary Market
- Amount Raised: ₹70.6M
- Date: October 2019
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $41.5M
Current Valuation: Not publicly disclosed
Key Investors
- WestBridge Capital
- Details: WestBridge Capital is a prominent investment firm focusing on high-growth companies in India. They have a significant presence in the Indian market, providing capital to companies across various sectors.
- Investment Focus Areas: Technology, financial services, consumer goods
- Notable Investments: PolicyBazaar, Delhivery, Oyo Rooms
- Info Edge
- Details: Info Edge is a leading internet-based business investor in India, known for its investments in various online platforms. They have a strong portfolio in the digital space, supporting innovative startups.
- Investment Focus Areas: Internet-based businesses, job portals, real estate
- Notable Investments: Zomato, PolicyBazaar, Naukri.com
- Google
- Details: Google is a global technology giant known for its search engine, advertising services, and various internet-based products. They invest in companies that drive innovation and digital transformation.
- Investment Focus Areas: Technology, internet-based companies, innovation
- Notable Investments: SpaceX, Uber, Airbnb
- Asha Impact
- Details: Asha Impact is an impact investment platform that supports social enterprises and innovative business models in India. They focus on addressing critical development challenges through their investments.
- Investment Focus Areas: Education, healthcare, financial inclusion
- Notable Investments: Specific notable investments are not mentioned.
- JM Financial
- Details: JM Financial is a financial services group in India offering a range of services including investment banking, asset management, and wealth management. They have a strong presence in the financial sector.
- Investment Focus Areas: Financial services, investment banking, asset management
- Notable Investments: Known for investments in various financial services and real estate projects.
What's Next for Adda247?
With the recent $35 million funding led by WestBridge Capital, Adda247 is poised to capitalize on the vast opportunities in the edtech market, particularly in tier II and III cities. The platform's expansion into K–12, JEE, NEET, and GATE markets presents a significant growth avenue, leveraging its large user base and extensive digital content.
Future fundraising seems promising, with plans for another round on the horizon. This additional capital will likely support further market expansion and technological enhancements. However, challenges such as financial performance issues and competitive pressure in the edtech sector could pose hurdles. Continuous innovation and strategic acquisitions may be key to navigating these challenges.
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