BUSINESS

Adda247 Raises Around $20 Million in Funding Round Led by WestBridge Capital

Edtech platform Adda247 has said it has raised around USD 20 million (about Rs 150 crore) in a funding round led by WestBridge Capital. The Series B funding round also saw participation from existing investors, including Info Edge, Asha Impact and JM Financials, the company said in a statement.

“The latest infusion of the funds will be utilized to optimize technology & product and conduct senior-level hiring. The edtech company is also foreseeing the acquisition of a few companies with complementary offerings,” the statement said.

“India at present has more than 500 million learners, which makes the country’s educational market enormous and open for diverse requirements. We will be using the latest round of funds to improve the learning outcomes on our platform and give our users a superior learning experience,” Adda247 founder and CEO Anil Nagar said.

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