New Delhi: For India’s edtech sector, the pandemic has come as a blessing in disguise, as students were forced to take digital classes in the comfort and safety of their homes. Several startups across the country are cashing in on the opportunity and joining the fray is Rancike Learning OPC Pvt Ltd.
The NIT-Jalandhar based startup has launched its learning app Rancike Gyan, an edtech app where students can connect, exchange notes, network, and share ebooks for free.
The app targets students from 9th-12th standard, CBSE and ICSE, and is said to be using artificial intelligence to understand the students’ behaviour and learning pattern. Based on algorithms’ results, the app provides them with mentors.
Rancike Gyan is aiming to build a student community for sharing requirements, posting queries, promoting positive discussions, and networking. The live updates feature offered by the app helps students keep up with important announcements like examinations, government notifications, etc.
The learning and study materials available on the app can be accessed by everyone. The startup claims that the content and chapter-wise solutions offered by the app are provided in detail by IITians and NITIans.
The app also offers detailed reports of the quiz section, which is free to participate in, showcasing the student's progress, and highlighting their respective strengths and weakness.
Mentors are further assigned to individual students to provide them guidance for answering queries and to motivate them psychologically. The tests and quizzes are designed to provide students with an experience of the examination environment. Also Read: IPO bells: CarTrade plans to go public, raise Rs 2000 crore: Report
Gaurav Kumar, Director Rancike Learning OPC Pvt. Ltd. says, “During the initial market survey, we realized the need for an app, which builds a community for the students. They can connect with fellow students, who are in similar condition, and are located across the country. We are targeting 20k+ downloads in the current financial year. Our major market share will come from tier-2 and tier-3 cities. There is a huge demand-supply gap coming from that area, due to the lack of quality tutors. Also, an app like ours will be extremely helpful for the students, who have lost bread earners of their family and don’t have sufficient funds, for extra coaching.’’
The edtech sector has witnessed a surge in the online education domain, and it is one of the most funded sectors in 2020. Venture Capital investments in ed-tech start-ups have almost tripled from January to July 2020 to $998 million, from $310 million, a year ago.
The investors have witnessed tremendous growth in the edtech companies, at times 3-5X rise in free audiences and between 50-100% growth in monthly revenues during covid times. This trend is here to stay, but the offerings would be the key differentiator. Also Read: India’s recognised startups count touches 50,000 mark