Fastudent, an education e-commerce start-up, has raised a round of seed investment from a group of marquee angel investors, led by Ashish Gupta, founder and trustee at Ashoka University.
The company did not disclose the amount raised.
Founded by IIT-IIM alumuni, Gaurav Barman and Geetanjali Khanna, Fastudent is an educational products aggregator — helps students, parents, schools and teachers across the bandwidth — from playgroups to post-graduation to fulfil their academic needs.
The company offers an e-commerce enabling technology platforms to enable education institutes to bring e-commerce in their own fold of offerings.
The change drives a lot more convenience and access to high quality academic content for their students in Metros and Tier – II & III cities, as well.
Fastudent said this round of funding would be leveraged for team expansion, strengthening the technology and increasing the geographical footprint.
The company plans to hire over 90 people over the next six months. Currently, Fastudent offers more than 20,000 SKUs across eight categories - Books & Stationery, Academic Accessories, Uniforms, Games, Sports, Digital products & Customized Merchandise.
They intend to extend their categories to niche and focused 32 categories, in the coming months.
Fastudent, currently services more than 20,000 pincodes all across India. The company said it is expanding its operations and plan to acquire over 10 million paying customers by the year 2018.