Ed-tech start-up Madguy Labs aims to expand its team size
MadGuy Labs, a Hyderabad-based ed-tech start-up, which offers AI based platform for aspirants of Government exams. The company aims to use the recent funding to expand its team size and introduce content into three more languages, in Tamil by the end of the second quarter, Bengali by the end of the third quarter and Oriya by the end of the financial year 2019-20. The company currently has a base of 65,000 active subscribers and 3,000 paid subscribers. The company raised ₹1.05 crore from US-based Capitalist firm, Gray Matter Capital in December, 2018.
The company will also launch an AI-based program i.e.“Teacher”, which would provide personalised training to aspirants. The company aims to capture the growing demand of ed-tech In India. Ed-tech market is on growth trajectory in India and is expected to reach $2.0 billion by the end of 2021, from $0.4 billion in 2017.