The Bangalore-based online education solutions provider Aurus Network has raised INR 18 Cr. in series A funding from IDG Ventures and Kalaari Capital. The funds will be used in company’s flagship product SuperProfs.com.
Founded by Piyush Agarwal and Sujeet Kumar, SuperProfs allows educational institutes to conduct live high quality video based classes over regular broadband networks, without the need to have dedicated equipments, leased lines or satellite connectivity.
As of now, Aurus only offers live online lectures for students preparing for CA exams and has about 25,000 registered students and 100 professors on its platform.
Piyush Agrawal, Chief Executive Officer at Aurus Network said, “With the new round of funds, we will invest in R&D, mobile technology and expand our product offerings to include more courses like IIT, and IAS study material at SuperProfs.”
“We are a curated marketplace in the online education space and our objective is to get only the most qualified and credible professors on our platform. Our focus is not on volume, but on the quality of teachers,” he added.
Earlier, Aurus had raised its first round of funding of about $1 Mn from Indian Angel Network, HCL Infosystems co-founder Ajai Chowdhry and former CEO Yahoo India R&D, Sharad Sharma.
According to the media reports, the company will now look to engage with schools and colleges to attract students. The company gets its revenue from the subscription fee it charges its students and earns a margin of as much as 50%.
Kalaari Capital and IDG Ventures had earlier jointly invested in companies including online fashion portal Myntra, mobile video streaming company Apalya Technologies and e-lingerie retailer Zivame.
Toppr.com and Embibe.com are also technology-focused education startups offering help to students for preparing engineering and medical entrance exams.