New Delhi, 9th May, 2023: ixamBee, a leading online learning platform focusing on job preparation for small-town students, has successfully secured equity funding of INR 11 Crore in its latest funding round. The investment comes from renowned investors, including 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 INR 3 Crore. ixamBee, founded by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh, is dedicated to assisting small-town students in their preparation for job-related exams, with a primary focus on government jobs.
With approximately 80 million graduates in India preparing for various jobs in both the public and private sectors, ixamBee addresses the challenge faced by students from Tier II and III cities, small towns, and villages who have limited access to quality education. The platform operates on a freemium business model, offering free mock tests for over 100 exams. Currently, ixamBee has reached over 12 million students, with 1.9 million students registered on the platform.
Chandraprakash, Co-founder & CEO of ixamBee, expressed excitement about the new investors, stating, “We are thrilled to have S Chand & Company and Inflection Point Venture join ixamBee as investors. With S Chand being a leading publishing house for competitive exams, we see significant business synergies. In addition, IPV’s existing corporate network will be instrumental in facilitating student placements in private sector jobs. This collaboration will exponentially increase the reach of ixamBee Learning Experience (iLX).The funds raised will be utilized to drive growth by launching additional learning programs, investing in content development, marketing initiatives, and technology enhancements.”
S Chand & Company, while announcing the funding, highlighted the synergies between the companies. “We are delighted to be part of ixamBee’s journey, which is focused on empowering students for employment opportunities in both the government and private sectors, bridging the gap between higher education and employability. The emphasis on providing quality and affordable learning to students in semi‐urban and rural areas aligns perfectly with S Chand’s vision of delivering quality and affordable education opportunities. We identify several synergies with ixamBee in terms of content development, marketing, and meeting the aspirations of the country’s future workforce,” said Mr. Himanshu Gupta, Managing Director, S Chand Group.
Vinay Bansal, Founder & CEO of Inflection Point Venture, acknowledged the immense potential of ixamBee in the growing ed-tech market. He stated, “The ed-tech market for higher education continues to expand rapidly and is one of the fastest-growing segments within the sector. ixamBee is addressing an ever-growing market opportunity as thousands of aspirants appear for competitive exams each year. The platform is assisting millions of students in accessing exam papers and study materials to prepare for their careers. We resonate with the purpose of their business and have chosen to invest in the company.”
The newly secured funds will be utilized to drive growth by launching additional learning programs and investing in content development, marketing, and technology. ixamBee aims to enhance its comprehensive range of study materials, practice tests, interactive learning tools, and personalization features under the iLX umbrella. By leveraging AI and data analytics, the platform provides students with a personalized learning experience tailored to their specific needs and learning styles while tracking their progress and providing real-time feedback.
What sets ixamBee apart is its deep understanding of the challenges faced by students in their job preparations, both in the government and private sectors. The platform streamlines the learning process to save students time by eliminating information overload, while also offering personalized mentorship for enhancing their interview skills and communication management—a critical aspect often overlooked by students during exam preparation.
The success of ixamBee can be attributed to its commitment to addressing students’ needs holistically, resulting in a trusted and beloved platform. Numerous testimonials from students serve as a testament to ixamBee’s impact on their career journeys, ranging from cracking exams to making informed career decisions. As a result, ixamBee has garnered a strong reputation and positive word-of-mouth within the student community.
Prior to this funding round, ixamBee had secured investments from Mumbai Angels Network, JITO Angel Network, Keyur Joshi, and notable alumni of the ISB, Hyderabad. Dr. Vishal Gandhi, Founder & CEO of BVA (BIORx Venture Advisors Private Limited), acted as the financial advisor in both the primary and secondary funding rounds facilitated by S Chand and Mukesh Sharma Trust.