Norwest Venture Partners and IDG Ventures India have invested 110 million rupees each in iProf India, which helps students prepare for competitive examinations for admission into engineering, medical and management colleges.
The investment will help iProf expand its footprint across India by opening around 100 more study centers, said Sanjay Purohit, founder and chief executive of the company.
The funds were open to investing more, he said.
India’s test-preparation market is worth $2.5 billion, and is growing at 15% a year, according to an estimate by iProf India. Via iProf Gets 220 Million Rupees Investment – WSJ.com