Currently competing strongly with unicorn startup Byju’s, Unacademy, Embibe, Meritnation, and more, Toppr which was launched in 2013 has raised about INR 700 crore by far.
Due to the increasing adoption of e-Learning during the lockdown period, edtech startups are continuingly attracting investors’ money in this post lockdown period.
Similarly in Series D round of funding, Toppr learning app raised around INR 350 crore. While the biggest investment came from the Dubai-based investment firm called Foundation Holdings, also taking part in this round of funding was its existing investor - Kaizen Private Equity.
According to a management consulting firm Ken Research, the India market is expected to grow to hit $2-billion size by 2021 at 20 percent per annum ratio.
According to Zishaan Hayath, Founder and CEO, Toppr, “Apart from our main product, which is the school learning app, the money will also go towards our product for teaching coding to kids and our school operating system (OS) built for teachers and administrators. We last raised $35 million around July 2018 and with this round we are looking to grow business 4x.”
Toppr app is a specially designed app for teachers and its students which can help in mapping every curriculum and plan lessons and manage class accordingly, assign homework, automate attendance, take tests, test papers correction, among others.
“So far learning happened in schools and on online learning apps after school but now we will be able to unify it,” added Hayath.
Furthermore, they also have a recently launched coding product called Toppr Codr will provide a significant opportunity to at least $50 million.
“In web traffic, we have been ahead of a top K-12 player in the last three months. The macro situation is that Covid is going to give huge tailwinds to the edtech sector,” said Hayath hinting towards Byju’s. The latter has reported 150 percent growth in the month of march with more than 6 million new students joining Byju’s.
Managing Director, Foundation Holdings stated, “Toppr has emerged as the highest traffic destination for K-12 learning and hosts over 1 million sessions every day. Toppr’s community of 50,000+ educators from across the country has contributed to over 35 lakh learning pieces, including questions, solutions, concepts, games, and videos for the students.”