Elearning startup Merination raises USD 5.8 M
Founders: Pavan Chauhan and Ritesh Hemrajani
Founded in: 2007
Financing status: USD 5.8 million for undisclosed round in 2017
Merination, an elearning startup headquartered in Delhi, has raised USD 5.8 million from Info Edge, an online classifieds site. Info Edge, which also controls job site naukri.com, real estate platform 99acres, and online matrimony site Jeevansathi, has now invested around USD 20.7 million in Merination through three rounds of fundraising, and now owns a 66% share in the company.
Merination will reportedly use around USD 5 million to settle some of its debts, while the rest will be spent on growing the company’s operations.
The elearning platform was founded by Pavan Chauhan and Ritesh Hemrajani, both of whom hold MBAs from Indian Institute of Management Bangalore, in 2007. Both founders have spent years in the education industry, and have worked in the fields of digital learning, test prep, counseling, and even teaching.
The startup boasts around 9.5 million users in nine countries, and it aims to reach schoolchildren in both private and public schools. It is used in state schools in Kerala, Maharashtra, Karnataka, and Tamil Nadu. Merination, through its use of education apps, videos, practice tests, interactive study tools, and homework help resources, hopes to make studying easy and fun for learners. It is accessible on both Android and iOS operating systems.
In 2014, the platform launched Merination Live for middle and high school students studying for the JEE and AIPMT entrance exams.
(Top photo from insidehighered.com)