Jaipur: AI-backed Startup TestnTrack raised an undisclosed amount in its pre-seed round from EvolveX, a global startup accelerator by We Founder Circle (WFC).
Empowered by Artificial Intelligence (AI), TestnTrack redefines the conventional Hand-written Assessment process by offering multifaceted solutions for educational institutions and coaching centres. Testntrack, a cutting-edge tech startup, is transforming traditional manual copy-checking. It automates hand-written assessments, saving teachers millions of hours and effort. Using AI, teachers scan and upload answer sheets of students for real-time processing, delivering not just marks but also audio feedback in no time. Testntrack is also pioneering the development of models for vernacular languages, ensuring inclusivity and accessibility in the realm of education technology. From designing exam papers to instant evaluation, Testntrack disrupts age-old education practices, propelling BHARAT forward.
- TestnTrack is an AI-powered, SaaS platform and the World’s only Hand-written Assessment platform.
- TestnTrack aims to expand its footprint across 25 cities with an infusion of new funds.
Jaipur-based TestnTrack was founded by Vinay Kamal Sharma (CEO), Priya Soni (COO) and Ritwik Joshi (CTO) in 2022. Vinay brings a wealth of experience in teaching in various cities, entrepreneurship, and business management. Vinay has impacted the lives of over 40,000 students in 14 years. While embarking on his entrepreneurial journey, Sharma joined hands with Priya Soni, co-founder of Examkul, an online examination platform and Ritwik Joshi, a visionary entrepreneur with expertise in technologies such as Robotics and Generative AI. Together, they share a collective vision of redefining the educational sector in India through the transformative impact of TestnTrack.
EvolveX recognized TestnTrack as a standout contender in its premier accelerator program, Cohort 4, launched in August 2023. TestnTrack successfully secured an undisclosed amount in its Pre-Seed Round, with EvolveX leading the investment charge. Notable contributions also come from esteemed investors such as We Founder Circle (WFC) and GK Ventures, signalling widespread confidence in TestnTrack’s innovative approach.
Commenting on the potential of TestnTrack, Bhawna Bhatnagar, Co-Founder of EvolveX, stated, “TestnTrack’s platform empowers teachers to deliver meticulous gap analysis reports, offering students personalized insights into their individual learning gaps and strengths. Furthermore, TestnTrack’s platform extends beyond the classroom by providing parents with comprehensive, data-driven insights into their child’s academic journey, fostering a collaborative ecosystem crucial for academic triumph.”
Bhatnagar also emphasized EvolveX’s commitment, stating, “At EvolveX, we are dedicated to extending comprehensive support, mentorship, and guidance to TestnTrack. Our aim is to bolster their innovative approach, ensuring they receive the necessary resources and strategic mentorship to navigate the dynamic ed-tech landscape successfully.”
On the funds raised, Vinay Kamal Sharma, Co-Founder and CEO of TestnTrack, affirmed, “This infusion of capital addresses a necessity the Edtech industry didn’t realize it needed. Our journey began in a single room, driven not just by a business vision but by the belief that education is a fundamental right. We are enthusiastic about collaborating with WFC, leveraging their long-term vision and esteemed global network to shape a company that transcends generations. The continued support from our existing investors is deeply appreciated. As we steer our focus towards long-term institutional development and creating value for all stakeholders, we eagerly anticipate the promising future ahead.”
Notably, EvolveX’s backing of TestnTrack comes at a crucial juncture as the education technology (Ed-tech) sector, particularly the test preparation and Academic Assessment segment, is projected to reach a staggering $9 billion market opportunity by 2030. With the infusion of funds, TestnTrack aims to expand its footprint across 25 cities like Kota, Ahmedabad, Delhi, Mumbai, Pune, Lucknow, Indore, etc. and cater to evaluating 50,000 students in the upcoming year. The focus of the platform also lies in enhancing its AI Learning Assistance, Nivaa, and upgrading the AI-power Audio Feedback API for Ed-tech companies.
Since its inception in May 2022, TestnTrack has onboarded over 112 institutions across three states and six cities, evaluating over 56,000 test sheets to date. The company is targeting a revenue of INR 1.8 Cr in FY24.
EvolveX is an early-stage program founded by We Founder Circle that has been providing high-impact acceleration to early-revenue startups from various sectors since its inception in 2021. With a mission to take startups to the next level, EvolveX offers its extensive network of seasoned mentors and successful entrepreneurs to guide startups on their journey to success. The program offers a range of benefits, including one-on-one mentorship sessions with handpicked angel investors and industry experts, upfront funding of $30K, and $200K worth of credits. EvolveX is committed to providing a continuous opportunity for startups, and applications are accepted on a rolling basis.
About We Founder Circle:
Established in 2020 in Mumbai, We Founder Circle is a global community of successful founders & strategic angels that have come together to push the start-up industry and steer it towards aggressive growth. WFC invests USD 50K- USD 2Mn amount in early-stage start-ups that are fueled with ambition, sustainability, and a strategic approach. WFC provides seed funding, business development, and global networking opportunities to start-ups as it believes early-stage start-ups need a lot beyond just financial support to become scalable and stable. It has already enabled USD 12 million worth of investments across 33 start-up deals in the year 2021 alone and has invested in 70+ startups since incorporation.