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The Silicon Review Asia

EdTech startup Pariksha bags capital by Bharat Inclusive Technology Fund

EdTech startup Pariksha bags capital by Bharat Inclusive Technology Fund

EdTech startup Pariksha has raised a new financing round led by Bharat Inclusive Technology Fund. The latest proceeds appear to be a Series A round for the Pune-based startup. The company has allotted 31,885 preference shares and 30 equity shares at an issue price of Rs 4,122.65 per share to raise around Rs 13.16 crore, regulatory filings show. This is the second investment for Pariksha in 2020 after an undisclosed round led by INSEAD Angels in April.

Besides Bharat Inclusive Technology Fund, Lets Venture, 9Unicorns, Inner circle One Consulting, and Nikhil Vora are the new investors in this round. While Bharat Inclusive and Lets Venture have collectively pumped in Rs 11.76 crore, the rest of the investors put in the remaining amount. According to Fintrackr, Pariksha's post-money valuation is estimated in the range of Rs 95-100 crore.

Pariksha operated in 11 states and six languages, including Hindi, Marathi, Tamil, Bengali, and English. Besides tier-II, III cities and rural regions, Pariksha also targets candidates from the urban areas. According to the company's website, over 3 million users have attempted more than 400 million questions. The app has completed more than 34 million numbers of tests.

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