Mumbai-based edtech startup Expertrons has raised an undisclosed amount from venture capital fund IvyCap Ventures. The round saw participation from the startup’s existing investors such as Iceland Venture Studio and Sarcha Advisors.
With the fresh infusion, the company plans to leverage its consumer base, improve the technology base and put the company on a growth trajectory.
Earlier, in April, the startup raised seed funding from investors, including Sixth Sense Ventures founder Nikhil Vora, LetsVenture, Iceland Venture Studio, and Samyakth Capital.
Founded in 2019 by Vivek Gupta and Jatin Solanki, Expertrons which operates an artificial intelligence-based video bot platform focused on helping students and professionals with their career management and goals AI-based recommendation engine analyses career options and experts are best-suited for its users.
Within a year, the startup claims to have over 1 lakh aspirants and 1,500 professionals and has tied up with over 80 universities globally, the company said in a statement. Its competitors include Phenom People, Inc., Interviewing.io Inc. and Gloat.
Speaking about the fundraise, Vikram Gupta, Founder & Managing Partner at IvyCap, said, “We are excited about this investment. Expertrons uses AI video bot technology for career guidance at a very large scale, a space that is ready for disruption. We look forward to working with the team that comes with a lot of passion to build a scalable and sustainable business.”
IvyCap Ventures was founded in 2011 by Vikram Gupta, Norbert Fernandes and Vishal Gauri, which focuses on early and growth-stage startups founded by alumni of premier institutions like IITs and IIMs.
In 2018, IvyCap had raised an $8.2 Mn (INR 60 Cr) angel fund to invest in 30-40 companies in the technology sector.
Given the fact that the pandemic has brought plenty of momentum for edtech adoption in India, the market size of edtech in India is estimated to grow 3.7x in the next five years, from $2.8 Bn (2020) to $10.4 Bn (2025).