Nagpur based startup RankJunction has raised angel funding from the Indian Angel Network. Jay Chopde and Ravi Kiran, two members of the network led the round of funding and will join the board of RankJunction, the IAN said.
The amount of investment wasn’t disclosed.
The startup was founded in 2011 a husband wife duo. Sameer, a serial entrepreneur and Rashmi Gautam to be able to rank students based on mock test scores. The interesting bit about this startup is that it can help you predict what the students rank will in in an actual exam by conducting a pre-scheduled mock online exam for thousands of students and ranking them side by side.
RankJunction started out with Medical post graduation entrance examination and is planning to go into NEET, UG, JEE Mains, CMAT and other tests. Nearly 15 million students appear for competitive exams every year and the size of the Indian market is estimated to be nearly $1 billion and growing.
Sameer Gautam, co-founder and CEO, RankJunction said, “The investment raised will be primarily used for strengthening product development. It will also help to scale up the business by launch of more paid tests, bringing more coaching classes on the portal, creating alternate distribution channels and additional new courses for the students.”
The startup claims that it has over 100,000 users from more than 1,000 locations.