ToppersNotes (Round Closed)
Making Personalized Learning Affordable
Official Website
Reports and Documents
₹ 2Cr.
Total Round Size
CCPS
Mode
₹ 50Lakhs – 1Cr.
Open for SAN Angels
₹ 60 - 100Cr.
(Floor) - (Cap)
Valuation (pre-money)
About the Opportunity
- Rapid Growth in Inclusive Test Prep– ToppersNotes presents a compelling opportunity to invest in a high-growth, all-inclusive test prep company offering creative, personalized, and affordable learning solutions for over 150 exams. With a focus on accessibility, this company is changing the game in test preparation.
- Revolutionary Phygital Learning– ToppersNotes has ingeniously combined physical books with a digital app subscription, creating a seamless 360-degree learning experience. This innovative “phygital” solution emulates a virtual coaching environment, making learning hassle-free and engaging for students.
- Established Stronghold and Regional Expansion– The company has solidified its position in UPSC & State PSC exams while successfully penetrating regional state-level exams. ToppersNotes has also gained traction in vernacular languages, broadening its reach and impact.
- Thriving in a Lucrative Market– The Indian education market is a staggering INR 18,000Cr, with the test prep segment exceeding INR 1000Cr. ToppersNotes is poised for substantial growth, having only scratched the surface of this vast market.
- Catering to the Masses– With 8Cr test prep aspirants, the majority seek self-study solutions due to various constraints. ToppersNotes stands out with its competitive pricing and a product that offers exceptional value for money, making it the go-to choice for aspirants.
- Dominating the Test Prep Landscape– ToppersNotes boasts an exam-agnostic approach, fortified by a strong brand built around exam-oriented content. With limited competition—just 3-4 active players—it enjoys a key competitive advantage and is the most profitable among its peers.
- Capital Efficiency and Sustainable Growth– Unlike many edtech giants, ToppersNotes has achieved significant growth predominantly through bootstrapping. The company raised its seed capital in October 2021 and has since doubled its revenue in a short 18-month period, reaching a remarkable INR 15.5Cr in revenue in FY23 with consistent positive EBITDA. The company’s robust unit economics, boasting an 80% gross margin, reflects its sustainable success.
Founders
- ToppersNotes is led by a dynamic leadership team comprising serial entrepreneurs, seasoned technologists, accomplished sales and marketing experts and experienced academicians. Together, they bring a wealth of knowledge and deep industry insights to the table, ensuring a holistic approach to education and business.
- With all three founders possessing over 7 years of expertise in their respective domains, the leadership team has forged a robust foundation for success. Over the past 5 years, they have meticulously built a formidable team of more than 100 members, further strengthening our capabilities.
- At the helm is the CEO, an IIT Topper and serial entrepreneur renowned for creating multiple profitable businesses within a mere 8-year span. His remarkable journey showcases a mastery of bootstrapping, sales and marketing, and strategic acumen—a driving force behind ToppersNotes exceptional growth trajectory.
Revenue Model
- D2C: A student directly buys phygital pack or course subscription from the website, Amazon, Flipkart or application.
- B2B: Selling its Phygital packages via Offline Retailers and institutes (successful pilot done).
Market Opportunity and Traction
- 200K+ students, 150+ exams, 500K app installs, 10 million annual web visitors, achieved INR 15.5Cr revenue in FY23 & INR 40Cr+ overall revenue so far & EBITDA positive in last 5 years & 10X growth in last 4 years.
- Have ventured into digital courses leading to 5X growth in respective exam categories & improved profitability.
- All set to launch the products in the physical market with 10-20X growth potential.
Previous Rounds Details
- Inflection Point Venture, Letsventure & Other Angels- INR 5.87Cr.
Current Round Details
- Total Round Size: INR 2Cr.
- Open for SAN Angels: INR 50Lakhs – 1Cr.
- Minimum Ticket Size: INR 5Lakhs and USD equivalent( for investment below INR 5Lakhs, the investment will come through our platform as a single line entity on the cap table).
- Valuation: (pre-money) INR 60Cr(floor)- 100Cr( cap).
- Mode (CCPS / Equity): CCPS.
- Discount Structure:- 20% in 12 months, 25% in 12-18 Months, 30% in 18-36 months, post that conversion on the floor.
- Details of commitment received for this round: INR 1Cr from current investors, Ah!Ventures & other angels.