EvolveX Partners with AI Startup TestnTrack in Pre-Seed Funding Round

AI Startup TestnTrack Secures Undisclosed Funding from We Founder Circle’s Global Accelerator, EvolveX, in Pre-Seed Round. With the help of artificial intelligence (AI), TestnTrack is redefining the traditional hand-written assessment process and providing coaching centres and educational institutions with a variety of alternatives. A cutting-edge digital business called Testntrack is revolutionising manual copy-checking. Teachers can save many hours and effort by having their handwritten exams automated. Teachers scan and upload student answer sheets using AI for real-time processing, quickly providing voice feedback in addition to grades. In order to guarantee inclusivity and accessibility in the field of educational technology, Testntrack is also leading the way in the creation of models for vernacular languages. Testntrack revolutionises traditional educational methods, advancing BHARAT, from creating exam papers to providing immediate evaluation.

Vinay Kamal Sharma (CEO), Priya Soni (COO), and Ritwik Joshi (CTO) created TestnTrack, a Jaipur-based company, in 2022. Vinay offers a plethora of expertise in entrepreneurship, company management, and teaching in multiple places. In just 14 years, Vinay has had an impact on the lives of nearly 40,000 pupils. As Sharma started his business career, he teamed up with Ritwik Joshi, a creative businessman with experience in robotics and generative artificial intelligence, and Priya Soni, co-founder of Examkul, an online testing platform. They have a common goal of using TestnTrack’s revolutionary effects to redefine the Indian educational landscape.

TestnTrack was identified by EvolveX as a top candidate for its exclusive accelerator programme, Cohort 4, which was launched in August 2023. EvolveX led the investment charge in TestnTrack’s Pre-Seed Round, which saw the company successfully raise an unknown sum of money. Prominent investors like We Founder Circle (WFC) and GK Ventures have also made noteworthy contributions, indicating that TestnTrack’s creative strategy is well-liked.

“TestnTrack’s platform empowers teachers to deliver meticulous gap analysis reports, offering students personalised insights into their individual learning gaps and strengths,” said Bhawna Bhatnagar, Co-Founder of EvolveX, in response to a question about the platform’s potential. TestnTrack’s platform also goes outside the classroom, offering parents thorough, data-driven insights on their child’s academic path and promoting a cooperative environment that is essential for academic success.

Bhatnagar underscored EvolveX’s dedication by saying, “We at EvolveX are committed to providing TestnTrack with all-encompassing support, mentorship, and guidance.” Our goal is to support their creative thinking and make sure they have the tools and wise guidance they need to successfully negotiate the ever-changing ed-tech environment.

The co-founder and CEO of TestnTrack, Vinay Kamal Sharma, confirmed that the funds raised “address a necessity the Edtech industry didn’t realise it needed.” Our journey started in a single room, propelled by the conviction that education is a basic human right in addition to a commercial ambition. We are excited to partner with WFC, utilising their prestigious global network and long-term vision to create a firm that will last for generations. We really appreciate our current investors’ ongoing support. We look forward to the bright future ahead as we direct our attention towards long-term institutional development and adding value for all stakeholders.

EvolveX’s support for TestnTrack is noteworthy because it arrives at a critical time, as the education technology (Ed-tech) market is expected to reach a startling $9 billion by 2030, with a focus on exam preparation and Academic Assessment. With the infusion of capital, TestnTrack hopes to serve 50,000 students for evaluation in the following year by expanding its presence across 25 cities, including Kota, Ahmedabad, Delhi, Mumbai, Pune, Lucknow, and Indore. The platform’s primary focus is on improving Nivaa, its AI learning assistance, and the AI-power Audio Feedback API for Ed-tech businesses.

TestnTrack was founded in May 2022, and since then, it has evaluated over 56,000 test sheets and onboarded over 112 institutions in 3 states and 6 cities. In FY24, the company hopes to generate INR 1.8 Cr in sales.