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Anand Chandrasekaran backs ed-tech startup EduRev – ETtech

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Former Facebook director and Snapdeal senior government Anand Chandrasekaran has invested an undisclosed sum in Chandigarh-based ed-tech startup EduRev, marking his sixth angel funding within the present calendar 12 months.

EduRev, which was formally launched in 2018 by two Punjab University alums, Kunaal Satija and Hardik Dhamija, primarily caters to college students within the 12 to 24 age group, serving to them put together for a spread of examinations, which embrace faculty boards to aggressive exams akin to IIT-Joint Entrance Exam, medical entrance and the Union Public Service Commission, amongst others.

However, not like its friends, EduRev doesn’t create its personal content material, as an alternative sources the identical from a mixture of outstanding lecturers, teaching centres and properly-recognized training-centered publishers.

The startup, which was a part of Y Combinator’s winter 2020 batch, has raised $150,000 in funding led by the Silicon Valley-based startup accelerator, based on Crunchbase. Chandrasekaran’s funding is a part of the identical spherical, which continues to be ongoing.

In 2020, aside from EduRev, Chandrasekaran, who’s at the moment the manager vp – Product Management and Design at Nasdaq-listed cloud contact centre software program supplier Five9, has additionally invested in psychological wellness startup Mindhouse, which has been based by Zomato co-founder Pankaj Chaddah, and InVideo, a DIY video creation platform, which was additionally a part of the second cohort of Sequoia Capital’s fast accelerator programme, Surge.

Three different investments made in 2020 stay undisclosed as but. Till date, Chandrasekaran, who’s among the many most energetic buyers within the Indian startup ecosystem, has backed an estimated 55 ventures, investing between $25,000-$50,000 in every firm.

An estimated eight of his seed-stage bets, which incorporates, on-line realty platform NoBroker, on-line credit score ledger firm Khatabook, on-line pharmacy Netmeds and buyer analytics and cross-channel engagement platform MoEngage, are every at the moment valued at over $100 million.

In April, NoBroker bagged $30 million from General Atlantic, whereas in May, Khatabook scored $60 million in its Series B funding spherical, which was led by B Capital Group. Chandrasekaran, who has additionally served because the product head of home telecom large Airtel, previous to becoming a member of Snapdeal in 2015, primarily focuses on betting on startups working in marketplaces, fintech, client, SaaS and the rising AI segments.

The product tech government has recorded 5 exits until date, which have come about from the acquisition of offline-to-on-line vogue e-commerce enterprise Fynd by Reliance, and the acquisition of co-working firm Innov8 by SoftBank-backed hospitality chain Oyo—each transactions have been introduced final 12 months.

Three different exits got here via the sale of hyper-native medicine supply app Pluss to Netmeds in 2016, and Kavin Mittal-led Hike Messenger’s twin acquisitions of social networking app InstaLively and {hardware} startup Creo, each of which have been reported in 2017.





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