In the recent event of fundraising, an education-basede-commerce online store Fastudent raised an undisclosed amount from one of its Pre-SeriesA funding, here on Thursday in Bengaluru. The web portal focuses on selling almost everything from textbooks to stationery such as course, reading books, notebooks, copies, and other daily usage materials. The fund was raised through the help of various investors who willingly invested in the startup firm.
The capital investors who took part in the Pre-Series A funding round were Ashish Gupta, Trustee of Ashoka University; Pavan Ongole, Former Director SoftBank; Ajay Lakhotia, Former Vertex Venture Director; Kanwaljit Singh, Founder of Fireside Ventures, and so on. The online educational platform earlier raised somewhat a beneficiary amount from seed funding with the support of a team of angel investors headed by Ashish Gupta back in 2015.
Founded in 2013 by Geetanjali Khanna and Gaurav Barman, Fastudent, focuses on providing academics along with basic student necessities in theire-commerce online store. One can visit the website and avail numerousoptions given the buyers or visitors. Currently, the website holds a backup of 200 institutes as clients located in the NCR region thus having a future perspective to add-up more than 1,000 institutions in the near future.
According to Geetanjali Khanna, Co-Founder of Fastudent,Our model has been successfully accepted by NCR schools. We will be expanding to private schools in other markets like Bangalore, Pune and Mumbai by 2017.
The company is at present fore sighting a unique pattern where an un-serviced demand of the Indian curriculum course books from the Middle Eastern countries. In fact, not even the Middle East but also the Middle Asian nations are asking for such similar course/textbooks with an overall increaseddemand from overseas. Specifically, countries like Japan, China, Singapore, etc. have also been included as clients hence building an appropriate roadmap by the end of 2018.
Apart from Fastudent, there are several such e-commerce platforms which deliver accurate service model in the colleges and institutions so as to supply educational products through a niche or streamline. One of the most successful companies in the market is 8dol.com in China, which validates the need for the platform so as to streamline educational supplies in the oceanic existing sector beyond India.