EdTech startups are always what excites investors the most. That’s because people always think about the future, and the success of products in this segment usually has potential to change the human resources our country has. Fastudent, a B2B2C education e-commerce marketplace has announced its Pre-Series A fund raise from a group of investors including Kanwaljit Singh, Fireside Ventures, Ajay Lakhotia, former Vertex Venture Director and Pavan Ongole former, SoftBank Director. Ashish Gupta, Trustee Ashoka University and former COO of eValueServe , all of whom invested in angel round.
Founded by Gaurav Barman and Geetanjali Khanna, the e-commerce start up will utilize this round of funding to expand into Mumbai, Bangalore and Pune and strengthen their technology platform, since they currently offer this service to schools in Delhi NCR only.
Commenting on the funding, Kanwaljit Singh, Founder Fireside Ventures, said:
“Fastudent has tapped into a consumer need for School-endorsed education supplies – coupled with the convenience of e-commerce deliveries. The young & dynamic team intends to service the education fraternity like never before by creating a highly personalized brand experience for its audience.”
The average annual spend for academic needs by students is approximately Rs. 2 Cr per institute in urban areas. This evolution in Education supplies market enables the educational institute to facilitate these supplies in desired quality and quantity for their students, without spending precious time or dealing with haphazard local supplies markets. That’s why Geetanjali Khanna started Fastudent.com. She aims to bring a change on how supply of academic material takes place. Fastudent.com lets students order any education supplies at their home or classroom in just a click with virtual shop and Branded e-stores of their own education institute created by Fastudent.com. Geetanjali describes Fastudent as “a niche platform which services the students community all the way from Play Group to Post Graduation (PG to PG).”