Toppr Technologies gets Rs15.5 crore funding from Alteria Capital

New Delhi: Venture debt firm Alteria Capital has invested Rs15.5 crore in Toppr Technologies Pvt Ltd, which runs an eponymous learning platform, the former said on Wednesday.

Toppr, founded by Zishaan Hayath and Hemanth Goteti in 2013, offers learning programs focused on school curriculum and test preparation for major engineering and medical entrance exams in India.

The service is delivered through the Toppr app and caters to students from classes 5 to 12. The learning material includes questions, solutions, concepts, practice tests and videos.

The venture is backed by SAIF Partners, Eight Roads and Helion Venture Partners.

Toppr raised $7 mn in its most-recent funding round announced in October last year, of a total $12 mn raised till date.

“Toppr has built a great product and shown strong consistent growth over the last two-three years. The team is highly motivated and is well placed to establish a leadership position in the Edtech space in India in the medium term,” Alteria Capital’s managing partner Vinod Murali said in a statement.

The deal is the third from Alteria Capital’s first fund launched in October. Previously, it has invested in food start-up Fingerlix and apparel maker Universal Sportsbiz.

Alteria Capital, the newest player in the venture debt space, is promoted by former InnoVen Capital executives Murali and Ajay Hattangdi and backed by IndusInd Bank, Small Industries Development Bank of India (Sidbi) and some family offices.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.