Vernacular test prep startup Adda247 has elevated its chief product officer (CPO) Chandan Singh as cofounder of the startup.
The change in the leadership team has been made based on Singh’s contribution and commitment to the company’s vision, the startup said.
With this promotion, Singh will be handling product, growth, analytics and digital marketing of Adda247.
Singh joined Adda247 in 2019 as vice president (VP)–product and was promoted to the position of CPO.
Prior to joining Adda247, he worked with companies including Coverfox, Info Edge, PwC India, DTDC Express Ltd and Oracle. He did his post-graduation from IIM Ahmedabad and earned BTech degree from IIT Varanasi.
The development comes a few months after Adda247 secured $35 Mn in a fresh funding round led by WestBridge Capital. Google, Info Edge and Asha Impact also participated in the funding round.
Set up in 2016 by Anil Nagar and Saurabh Bansal, the edtech startup prepares aspirants for government job entrance tests. The platform offers varied online learning solutions including – online live classes, on-demand video courses, mock tests and e-books, among others.
The startup claims to be offering services to about 100 Mn government job aspirants across the country. It offers online coaching in 12 vernacular languages such as English, Hindi, Tamil, Telugu, Marathi, Bengali, Odia, Punjabi, Gujarati and Assamese, among others to students.
“Having witnessed this incredible transition, I am confident that our amazing team will continue to be trailblazers as we move forward leading and pushing the boundaries of the government test prep category. We at Adda247 are on a mission to create a level playing field for the masses and will continue growing our vernacular business, adding more languages and more exam prep categories,” said Singh.
The startup claims to have 22 Mn active monthly users and 2 Mn paid users. In the financial year 2022 (FY22), Adda247 reported a turnover of INR 64 Cr as compared to INR 46.7 Cr in FY21.
The announcement has come at a time when India’s edtech players have been weathering funding winter, economic slowdown, global disruption and impending recession, among others.
As a result, more than 7,800 employees have been sacked by edtech giants including the likes of BYJU’S, Unacademy, Vedantu and Whitehat Jr, among others, as per Inc42 layoff tracker.
At the same time, edtech startups Udayy, Crejo.Fun, and Lido could not bear the brunt of the funding crisis and closed down their shutters. Inc42