ixamBee, an online government exam preparation platform, announced that it has raised $300,000 in a seed funding round co-led by Jain International Trade Organisation (JITO) Angel Network and Mumbai Angels, along with participation from existing investors including Keyur Joshi (Co-founder, MakeMyTrip).
Speaking about the new development, Chandraprakash Joshi, Founder of ixamBee, said, “Team ixamBee is going to immensely benefit from the experience and network of JITO Angel Network. We are thankful for the belief placed in us by our existing investors. We are confident that with their support, we will become a catalyst in the government exam preparation space while building synergies with online-offline collaboration and reaching the students in the remotest corners.”
The Noida-based startup offers technology-based learning solutions for competitive exams to prepare the new generation of smart learners. It provides easy learning material like mock tests, online test series, online practice tests, and speed tests series to aid students to prepare for banking and insurance exams, exams conducted by SSC, exams by Railways, teaching exams, and several government and other exams in the most extensive way possible.
ixamBee will use the freshly raised funds to improve its offerings by investing in technology for a more valuable customer experience and in developing content for courses for various government jobs. The funds will also be used to extend the reach of ixamBee through multiple marketing channels and also spread exam awareness amongst prospective applicants, many of whom miss opportunities, due to lack of knowledge/information on such government job exams.
Commenting on the investment, Narendra Shyamsukha, Deal Lead, JITO Angel Network member; and Founder, ICA Edu Skills said, “ixamBee is aiming to get relevant exam preparation material for students preparing for government competitive exams through online medium. This makes the platform accessible for Tier-III and IV students, offering them quality courses at the ease of their home. Also, the free practice test series available on ixamBee also helps the economically weaker section. We believe that such initiatives by ixamBee will help millions of students and will be a game-changer in the industry.”
The startup stated that around 50 million applicants appear for several government job exams every year with the majority coming from Tier II and III towns and villages. ixamBee offers free online mock tests for over 50 such exams and provides a complete online learning experience ranging from career guidance to interview preparation.
The pandemic has pushed people to adopt digital solutions. This brings a golden opportunity for startups like ixamBee. The latest capital infusion will help the company in growing its business.Shishir Gupta, Founder and CEO, Startuplanes
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