10 May 2018, India:
Education technology firm Toppr has raised ₹15 crore in debt funding from Alteria Capital.
The firm is backed by SAIF Partners, Helion Ventures and FIL Management. It has raised a total of $18.92M in equity funding till now.
Zishaan Hayath, CEO, Toppr said, “The Alteria team understands the needs of entrepreneurs, and is sensitive to their requirements. Venture debt has been a very useful tool to grow our business without additional dilution, and we are happy to have Alteria as our partner in this journey.”
Vinod Murali, Co-Founder and Managing Partner, Alteria Capital said, “The needs of Indian students cannot be met solely through classrooms, and using technology well to improve personalisation and convenience for students while still providing high-quality content has been the key to Toppr’s success. Toppr has built a great product and shown strong consistent growth over the last two-three years. The team is highly motivated and is well placed to establish a leadership position in the edtech space in India in the medium term.”
Toppr was founded by Zishaan Hayath and Hemanth Goteti in 2013. It is a learning app for students studying in classes 5th to 12th or students appearing for entrance exams and scholarship exams. It claims to cater over 2 million registered students.
(Image – SAIF Partners)
