OnlineTyari raises fundings from Michael and Susan Dell Foundation
Mobile-first multilingual test preparation app OnlineTyari (OT) has raised an equity investment of $2.1 Mn (INR 15 Cr) from The Michael & Susan Dell Foundation. The fundings will be used to expand its vernacular offering, widen exam coverage and strengthen its technology and analytics engine.
The Gurgaon-based startup was founded in 2014 by IIT graduates Vipin Agarwal and Bhola Ram Meena. Commenting on the investment, Co-Founder and CEO of Online Tyari, Vipin Agarwal said, “India is witnessing a paradigm shift toward online educational services. We are proud to be at the center of this and excited to partner with the Michael and Susan Dell Foundation as we move into the next phase of our growth. This partnership will help us introduce new business best practices and to achieve the scale needed to reach our goal: improving education and skill development for more than 100 million people every year across India.”
“The market for government and public sector entrance exams is huge with more than 20 million aspirants every year. These exams are very different from top-end engineering college entrance exams, and we have customized our solution for this large, yet unique target segment. We believe our market advantage comes from the learning’s that can be generated by the sheer number of users on our platform,” said Founder and CTO OnlineTyari, Bhola Ram Meena.
“OT has already disrupted the market for test prep in India by creating a personalized, data-backed solution for a large but often ignored market segment. The platform approach that curates content from multiple partners enables them to provide high-quality exam content with a very short time-to-market. This is very important for this market segment as students may appear for multiple exams and need a one-stop solution. OT will play a huge role in helping students from smaller towns and low-income family’s access test prep services,” said Education Director India, Michael and Susan Dell Foundation, Prachi Windlass.
The Michael & Susan Dell Foundation has invested more than $147 Mn (INR 983 Cr) in non-profit and social enterprises in India and will pump in another $50 Mn (about INR 333 Cr) in the next three years.