Educational app Toppr on Monday said it has raised Rs 45 crore in its second round of funding, led by its existing investors SAIF Partners, Helion Ventures and FIL Capital Management.
"Toppr...has raised Rs 45 crore in its second round of Series B funding, led by its existing investors SAIF Partners, Helion Ventures and FIL Capital Management," the company said in a statement.
Toppr had raised a cumulative $12 million in May 2014 and May 2015 in its seed and Series B funding rounds, and has used those funds to push adoption of its platform.
"This is a second round of series B funding by our existing investors. This capital will be used to expand the geographical foot print and accelerate user acquisition. We expect this capital to take us to full profitability," Toppr CEO and founder Zishaan Hayath said.
The company pursuing aggressive expansion plans to reach out to students across the country and open centres in 30 cities by December 2017.
Toppr has projected 20 times growth in its junior grades and 15 times growth in its senior grades subscription by 2021, making it a company with over USD 500 million in revenue in the next 4 years, the statement said.
The company claimed to have over 2 million registered users, and over 1 million app downloads.