EduGorilla has ambitious plans to transform not just the company but the entire educational ecosystem: Utilise the funding for expansion of content in 9 Vernacular Languages by April 2023, Hone its AI and ML-based platform to increase the success rate of its students from 14x to 25x, Increase coaching partners from 3,000 to 15,000 and Launch 200 more video courses in various vernacular languages.
Many existing investors, such as SucSEED Angels Network (SAN), TiE, and VG Angels, have again participated in the current round.
EduGorilla’s vision was commended by the Hon’ble Prime Minister Shri Narendra Modi and Hon’ble Chief Minister, Uttar Pradesh, Shri Yogi Adityanath at the Invest in UP GBC 3.0. Both viewed EduGorilla’s work and appreciated its vision of solving the problem at the grassroot-level.
Commenting on the development, Mr Rohit Manglik, Founder & CEO, EduGorilla, said: “Over 70% of our students hails from rural India, and a majority of them are not well-versed in English, making it essential to focus on vernacular languages as we reach out to a 7.5 crore student base in tier 2 & 3 cities and villages. This funding will help us bring quality education in their preferred vernacular language at their doorstep and increase their chances of recruitment.”
“EduGorilla has developed AI and ML based tech that have completely replaced the middleman and the warehousing model, enabling us to reach the students with our books and mock tests within 5 days and 48 hours respectively, increasing our sales window by 6x,” said Shashwat Vikram, Co-Founder & Chief Technical Officer, EduGorilla.
EduGorilla provides Online Test Series, Books, LIVE Classes, Video Courses, and Mock Interviews for 1600+ exams, including state-level and lesser-known ones such as MP Police Constable, MPTET Varg 3, and more; through its website, app, and 3000+ partners. EduGorilla turned EBITDA Positive in Q4 FY 2021, with its average order value increasing by 8.5 times over the last 3 years, reaffirming its credibility. EduGorilla had earlier raised funding of around ₹5.3 Crore from Auxano Entrepreneur Fund, SucSEED Angels, TiE, VG Angels, among others.
“The company is among one of the early starters and leaders for the regional state government exams market (Sizeable chunks of local markets available with a stable YOY growth. The technology of the company presents it with a distinct competitive advantage. The tech team has built the software from scratch. The parents acquired by the company over the test software, would prevent the Mee too players from gaining advantage. The company acts as a supplement to the competitive exam coaching which opens up multiple avenues for the company to explore tieups and further increase revenues. The company has achieved explosive growth in the last 6 months and is poised to achieve similar revenues for the coming few quarters.”, said Harsh Modi, Deal Lead – Edugorilla and Venture Partner at ah! Ventures
Read the original announcement: https://ahv.fyi/edugorillapr