Online learning platform ixamBee has raised Rs 11 crore in its pre-Series A led by S Chand & Company, IPV (Inflection Point Venture), Mukesh Sharma Family Trust, Keiretsu Forum, SAN Angles, Mumbai Angels, and Keyur Joshi (Co-founder of MakeMyTrip).
The funding round also involved a secondary transaction of Rs 3 crore.
According to ixamBee, the funds will be used to drive growth by launching additional learning programs and investing in content development, marketing, and technology.
Founded by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh, ixamBee’s flagship product enables students to prepare for recruitment exams at RBI, SEBI, NABARD, public sector banks, insurance companies, SSC, and other PSUs, among others.
The platform operates on a freemium business model, offering free mock tests for over 100 exams. Currently, ixamBee claims to have reached over 12 million students, with 1.9 million students registered on the platform. ixamBee Learning Experience (iLX) is a combination of a comprehensive range of study materials, practice tests, and interactive learning tools.
ixamBee also offers classroom coaching and test series programs for students who prefer a more traditional learning approach. These programs are conducted by experienced faculty members and are available in select cities across India.
Previously, ixamBee had received an undisclosed amount in debt round from Caspian Debt in January 2022 and $300K in seed funding co-led byJain International Trade Organisation (JITO) Angel Network and Mumbai Angels in April 2021.