MUMBAI, May 12, 2015 /PRNewswire/ --
After stamping its authority in the offline test prep industry, Mumbai-based Plancess EduSolutions Pvt. Ltd. is ready to prove its mettle in the online test prep industry. Started in 2011 by three batchmates at IIT Bombay, Plancess has quickly grown to a team of 130+ Plancessians. The proceeds of the latest round would be used to accelerate product development and expand distribution presence in additional geographies.
Many B2C players across industries have seen tremendous success in the online space with the rapid adoption of mobile technology and Internet services. After being dormant for a while, India's ed-tech industry has seen encouraging activity off late with over $15 million in investments committed over the last month alone. The news of Plancess' $2 million round comes on the heels of Toppr's round of $10 million from SAIF Partners and Helion Ventures. The industry is valued at $8 billion in India and over $80 billion globally, and with Plancess setting its eyes on other entrance tests across the world, this would be a space to watch for.
Nitesh Salvi, Director & Co-founder at Plancess EduSolutions Pvt. Ltd. exuberates his confidence in the sector's potential. "India witnesses close to 1.5 million applicants for the IIT JEE every year, and this is just one of the many entrance tests in India. Education is very highly placed in our social structure - and rightly so. Every parent wants their child to go to the best institute and the best institutes require the student to qualify through an entrance test. It's not difficult to guess why the test prep sector is one of the fastest growing segments in India's education industry," says Salvi.
Mr. Gogri, Chairman of Aarti Group, said, "The team at Plancess is making aggressive inroads into the education industry. It has quickly grown into a structure, which has a strong product roadmap and stable business model for its print and digital offerings. We are pleased with the vision, commitment and speed of execution of the founding members. Rarely have we come across an education technology venture in India, which has rapidly scaled from a hostel room to a team of 130+ individuals who are brimming with energy to make things happen."
Plancess has been in the news lately because of its recently announced partnerships. With Wiley, Plancess stands to gain increased visibility on the bookshelves across India. The partnership with Samsung would bring a line of tablets with pre-loaded Plancess study materials in the market, thereby making quality preparatory content available at affordable prices in the digital format.
"We've taken painstaking efforts to ensure that nothing short of the best educational content reaches our users. Till date, we have successfully catered to 10,000+ IIT aspirants and are proud of the fact that close to 20% of our users have made it to the qualifying ranks at IITs and other leading engineering colleges in India. Having experienced the process ourselves, we thoroughly understand what it takes to reach there. It absolutely made sense that best should train the aspiring youth. This is the reason why our materials are designed and validated by the top 100 rankers in IIT," said Salvi, explaining how the products are coming from experts who have cleared the test themselves.
Traditionally, the test preparation space had been dominated by coaching institutes concentrated in certain parts of the country. This not only restricted the availability of quality faculty and preparation material in limited centers, but is also largely out of reach of many promising students with limited means because of the exorbitant tuition fee charged by these institutes, ranging anywhere between INR 50,000 to as high as INR 3,00,000. Plancess' products bring a relief to aspirants' pockets as the products are affordably priced between INR 2300 to INR 25000, without compromising on the quality of the content. This brings all IIT aspirants at a level field, an ideology Salvi completely believes in. "With Plancess, our endeavour is to make the best educational content accessible and affordable for all. Each child should get an equal and unbiased opportunity to rise," he said.
Shedding light on the vision of the company, he added, "We will not limit ourselves to the IIT preparatory sphere; several other avenues are severely underserved as we speak. Our initial focus would be on expanding our product portfolio into medical entrance preparation, and we are optimistic about helping 50000+ engineering and medical entrance aspirants by 2016-17."
About Plancess EduSolutions Pvt. Ltd.
Founded by IITians, Plancess EduSolutions Pvt Ltd. is India's first and largest education content delivery company, bringing out the smartest way of studying through its powerful video lectures, study material and online test series developed by Top 100 JEE Rankers, and an Android application for JEE preparation for staying connected on the move.
To discover more, kindly visit http://www.plancessjee.com/
Plancess EduSolutions Pvt. Ltd.
SOURCE Plancess EduSolutions Pvt. Ltd.