Funds will be used to advance AI and Machine learning technology
Ahmedabad: Ahmedabad-based Ed-tech company Prepseed has secured seed funding of Rs. 2 crores from a Chiripal Group of Companies. The company’s investment was raised at Rs. 10 crore valuation. Prepseed is an AI-enabled Ed-tech company co-founded by Mr. Vivek Kankaria. Mr. Kankaria envisioned Prepseed and grew it to it’s best along with the expertise of alumni’s from IIT-Kanpur and IIT-Delhi, to use technology and machine learning techniques. Prepseed platform presently provides platform to over 150,000+ students and 230+ educational institutions across India, viz. coaching academies, schools, and colleges.
Commenting on the development, Mr. Vivek Kankaria, Co-Founder, Prepseed said, “We are delighted to receive the seed funding, and the resources will be utilized for advanced AI and machine learning technology, allowing educational institutions and students to better identify and address the difficulty levels of the students’ vis a vis their courses and subjects“.
Mr. Vansh Chiripal, who has joined the Board of the company, said, “The gap in India’s educational sector must be filled by revolutionizing technology in the right direction. India has a large population; not all teachers have the time and/or resources to cater to each student with the same importance to all and to understand & determine what their educational pros and lacunae are. Prepseed had been successfully assisting the faculties on the same lines and further facilitated in filling this gap by introducing digitalization into the operations of educational institutions. This helps subscribers to Prepseed save resources and time while ensuring optimal system growth.“
Prepseed began as a tool to help competitive exam candidates analyze their performance using AI technology. It aids students in preparing for competitive exams such as IIT-JEE, NEET, SAT, and others, as well as educational institutions such as KG–12 grade: CBSE, Cambridge, IB, IGCSE, and various State Boards.
Allen Institute for Careers, JNV (Jawahar Navodaya Vidyalaya), Resonance, Reliable Institute, Dakshana Foundation, Vyas edification etc., are using Prepseed’s Learning Management System (LMS) and/or Enterprise Resource Planning (ERP) services. AIR 5- 2022 (All India Ranking), Reliable student from Kota has been using the portal for more than two years. Similarly, students of the same institute succeeded in getting admission in various IITs’ with more than 50% of total students attempting the exam for the year. Subsequently, when the Company’s data was analyzed, the use of the Prepseed portal was one of the major distinguishing factors for this applaudable result.
According to Vivek, technology helps perform tasks that take a lot of time and financial resources, which is why Prepseed.com. The company is in the beta phase of developing software enabling administrators to perform all necessary admin tasks on a single screen to eliminate resource and financial waste in the heavily manpower-driven Indian education sector. With the help of AI, it will be possible to comprehend what is required for each educational institution and make the process simpler and faster.
“No one should be denied an education because they lack resources, particularly when technology is available to everyone. Education is not about how hard you work; it’s about how smart you work“, added Mr Kankaria.
The application version for mobile phones and tablets for the students, teachers, admins and management has also been developed and is under the testing stage.
