Venture capital firm IvyCap Ventures (whose portfolio includes companies like Purplle, BiryaniByKilo, Fingpay, Singularity, Convosight, Pharmarack) has backed Mumbai based Expertrons (Netflix for Career Hacks), with an undisclosed investment in a round that was also participated by the startup’s existing investors Iceland Venture Studio and Sarcha Advisors.
IvyCap is a fund management company which invests through the Global Alumni Ecosystems and invests in early to growth-stage companies, with highly scalable and innovative business models. This investment has provided a boost in Expertrons’ journey and mission to make a difference in the booming ed-tech space.
The founders said that this infusion will be utilized to build a larger consumer base, improve technology base, and put the company on a rapid growth trajectory without compromising on the superlative consumer experience that we have been known for always.
Speaking about this, Vikram Gupta, Founder & Managing Partner at IvyCap, said, “We are excited about this investment. Expertrons uses AI videobot technology for career guidance at a very large scale, a space that is ready for disruption. We look forward to working with the team that comes with a lot of passion to build a scalable and sustainable business.”
Expertrons was founded by IIT Bombay alumni and batchmates, Jatin Solanki and Vivek Gupta, with a vision to revolutionize the educational landscape of the country using the latest technology. Ever since the startup has been actively achieving seamless application of the AI Video Bot experience. By using a deep tech AI recommendation engine based on numerous data points, it personalizes the best-suited experts and career options for aspirants. This provides young professionals to make smarter career decisions.
In just a matter of a year, the company reports having about 15 million minutes of content watched by users on their app that currently dominates the market. In such a short span, the startup has managed to create a platform with over 1,00,000 aspirants and 1,500 professionals. It has gone as far as successfully tying up with over 80 universities globally. In the first six months of 2020, VCs have shown a clear preference for ed-tech startups.
The nation-wide lockdown due to Covid-19 has also triggered this significant rise in such investments with as much as $14 Bn in the past 9 months. Startups are moving pace to keep up in the run to achieve the estimated growth of the Indian ed-tech market to $3.5B by 2022.
By being one of the current leading players, Expertrons took a chance and acquired GrowVation, a social network for the tech community. With commendable impact, GrowVation has a history of several hundred published projects, with about 8,600 users, 22 partner institutes, and 50 partner companies. Devender Singh Bohra and Avinderpal Singh, co-Founders of GrowVation have joined the core team as part of the Business and Technology teams respectively.
The company has also developed use cases of their technology to drive sales, clear customer queries, generate leads, and even internal training for organizations.