ixamBee, a well-known online learning platform that specialises in career preparation for students from small towns, was successful in securing equity funding totaling INR 11 Crore. Famous investors, including S Chand & Company, IPV (Inflection Point Venture), Mukesh Sharma Family Trust, Keiretsu Forum, SAN Angles, Mumbai Angels, and Keyur Joshi (co-founder of MakeMyTrip), have contributed to the investment. The investment deal also included a $3 billion secondary transaction. Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh launched ixamBee with the goal of helping students in small towns prepare for tests for employment that are primarily in the government.
ixamBee tackles the issue encountered by students from Tier II and III cities, small towns, and villages who have limited access to high-quality education, with around 80 million graduates in India preparing for diverse occupations in the public and commercial sectors. The platform has a freemium business model and provides free practise examinations for more than 100 exams. Over 12 million students have currently used ixamBee, and 1.9 million of those students have enrolled on the platform.
S Chand & Company and Inflection Point Venture have joined ixamBee as investors, said Chandraprakash, Co-Founder and CEO of ixamBee. “We are thrilled to have S Chand & Company and Inflection Point Venture join ixamBee as investors,” he said. We observe strong business synergies with S Chand being a renowned publishing organisation for competitive exams. Furthermore, the IPV’s current corporate network will be crucial in supporting student employment in the private sector. The reach of ixamBee Learning Experience (iLX) will rise significantly as a result of this relationship. The money generated will be used to fuel expansion by introducing more learning programmes, making investments in content creation, marketing campaigns, and technological advancements.
S Chand & Company underlined the business overlaps when they announced the funding. We are thrilled to be a part of ixamBee’s mission to bridge the gap between higher education and employability by enabling students for employment opportunities in both the public and private sectors. The focus on offering semi-urban and rural students quality and cheap education chances is exactly in line with S Chand’s objective of providing quality and accessible educational possibilities. According to Mr. Himanshu Gupta, Managing Director, S Chand Group, “We identify several synergies with ixamBee in terms of content development, marketing, and meeting the aspirations of the country’s future workforce.”
The Founder and CEO of Inflection Point Venture, Vinay Bansal, recognised ixamBee’s enormous potential in the expanding ed-tech market. He said, “The ed-tech market for higher education is one of the fastest-growing categories within the business and continues to increase significantly. The market opportunity for ixamBee is expanding as thousands of candidates take competitive exams each year. Millions of students are using the platform to access exam papers and study resources as they get ready for their futures. We decided to invest in the company because we connect with its mission.
