Noida-based school supplies market Fastudint has raised an undisclosed amount of pre-Series A funding from a group of investors.
Kanwaljit Sing of Fireside Ventures; Ajay Lakhotia, former director of Vertex Venture; Pavan Ongole, former director of SoftBank; and Ashish Gupta, Administrator of Ashoka University and former COO of eValueServe participated in this round.
Commenting on the funding, Kanwaljit Singh, Founder of Fireside Ventures, said, âFastudent tapped into a consumer need for school-approved school supplies – coupled with the convenience of e-commerce deliveries. The young and dynamic team intends to serve the education fraternity like never before by creating a highly personalized brand experience for its audience.
Fasttudent will use this round of funding to expand to Mumbai, Bangalore, Pune, etc., and strengthen its technology platform.
Founded by Gaurav Bartender and Geetanjali Khanna, Fasttudent provides educational supplies by partnering with educational institutions and helping them set up their own personalized virtual stores featuring school-approved products. It currently offers this service to schools in Delhi NCR only.
He’s aproximatly 32 categories including books, stationery, digital learning, branded products, sports, uniforms, shoes, etc. It claims to have an educational catalog on Over 1,000,000 products, covering 500 brands.
According to a company statement, Fastudint has partnered with more than 200 educational institutions. The company manages end-to-end operations to support transactions received at these stores, from order receipt to last mile delivery. Fasttudent around 1.2 million students on its platform and has processed more than 90,000 orders up to date.
Earlier in November 2015, he raised an undisclosed amount of seed funding led by Ashish Gupta, Founder and Administrator of Ashoka University.
In March 2016, SchoolKart, an online marketplace for school products based in Delhi, raised $ 300,000 of 12 angel investors. In May 2016, the promoters of Mumbai-based publishing house Navneet Education Ltd made a strategic investment in SchoolWear.in, an online marketplace for selling school uniforms and supplies. Other startups that cater to the sector related to children are Hopscotch, Firstcry, MyCity4Kids, among others