The funds raised will be used for expansion and marketing of the product.
GuruQ was founded by Boston University alumnus Minal Anand in 2016. The startup provides a platform to connect students with the right tutors, to facilitate an enhanced learning experience.
Talking about the investment, Minal Anand, Founder and CEO, GuruQ, said, “This funding is a significant milestone in allowing us to expand the business, strengthen development, and create value in the market with new features.”
The startup offers both online and offline tutoring for students pursuing primary, secondary, higher secondary, and undergraduate courses. The edtech startup offers a cohesive platform to enable students to schedule on-demand classes with quality and qualified tutors, based on their budgets and types of classes.
GuruQ is operational across New Delhi, Faridabad, Gurugram, Ghaziabad, and Greater Noida, as per the information available on the website. Flush with funds, the startup is looking to expand to Punjab and Haryana. It plans to offer services in cities like Ambala, Rohtak, Karnal, Meerut, Hisar, Ludhiana, Amritsar, Jalandhar, and Chandigarh.
According to a Google and KPMG report of May 2017, the online education sector has the potential to touch $1.96 billion by 2020 from the current $247 million. India is already the second largest market for e-learning after the US.
According to an IBEF report, the education sector in India is pegged at $91.7 billion in FY18 and is expected to reach US$ 101.1 billion in FY19.
With the government’s objective to increase the current gross enrolment ratio to 30% by 2020 will also boost the growth of distance education in India, creating a huge opportunity for growth.