Online book selling platform eQuickes has raised $298K (INR 2 Cr) from Lothal Angel Ventures.
The funding will be used for marketing and technology development. It will also be used for team expansion.
Ahmedabad-based online platform eQuickies provides educational study material to students. It also acts as an independent book exchange portal which facilitates individuals to buy/sell their old books and study materials along with usable stationery, at prices they determine themselves.
Talking about the funding, Aakash Gajjar, co-founder, eQuickies said, “Through our portal the study books can be purchased on EMI as well as on discount. Books prescribed for higher studies like medical or engineering or accountancy are expensive for many students and with rising costs of education, the prices of higher studies and professional courses books have also turned expensive.”
It also provides updates on coaching classes and admissions on its platform. Information regarding books, book donations, PGs, and hostels can also be accessed on it.
Commenting on the investment, Manavsi Thapar, angel investor at Lothal Ventures said, “While novels or story books are leisure reading, thus the demand depends on the group of ardent readers, this is not case in student books. Student books are a compulsory demand, thus the sales are more predictable and with rising education level the demand is always rising.”
In May 2016, Blume Ventures invested an undisclosed amount of funding in the Pre-Series A round of Prepathon, a learning app for competitive exams. In August 2016, Bengaluru-based online learning platform Unacademy raised $1 Mn funding in a second round of external investment.
Earlier this month, Bengaluru-based edtech startup BYJU’s raised $50 Mn in funding led by the Chan Zuckerberg Initiative (CZI), along with Sequoia Capital. Online study platform Zeroinfy also raised an undisclosed amount in Seed funding from Calcutta Angels Network (CAN).
This development was first reported by ET.