Edtech platform focused on competitive exams, Oliveboard has raised Rs 23 crore led by Indian Angel Network (IAN) Fund. Education Catalyst Fund (ECF) and Yukti Securities also participated.
According to the company, the proceeds will be used in expanding its number of national-level courses and exams, and to add state-level categories.
Founded by Abhishek Patil and Satish Kumar, Oliveboard is an online test preparation platform that delivers a data-driven form of learning. It offers mock tests, sectional tests, along with conceptual videos and lessons.
The startup claims to have over 8 million users across more than 2500 cities in India. It currently supports 50 government exams.
The lead investor in this round, IAN had recently invested in backpacker hostel brand goSTOPS. It also counts FarEye, Fab Alley, HungryZone, Staqu and others in its portfolio and claims to have exited 3-4 companies in 2021 after registering 15 times growth on the invested capital.