About Test Preparation Tech sector in APAC
The Test Preparation Tech sector in APAC comprises 3.95K companies, including 260 funded companies having collectively raised $10.2B in venture capital money and private equity. Out of these, 83 are Series A+ funded, and 4 have achieved unicorn status.
Test Preparation Tech sector in APAC has seen 36 acquisitions and 5 IPOs.
This sector includes companies providing courses, educational resources, tutoring solutions, and learning platforms for competitive exam preparation.
Test Preparation Tech sector is also known as Exam Preparation Tech.
All companies that provide instructor-led or self-paced courses, tutoring, and educational resources for exam preparation. Exam preparation can be for college entrance or for government jobs. Also includes companies offering management platforms for test preparation providers. Excludes companies providing learning through offline centers, face to face tutoring and other offline mediums. Also, excludes continued education platforms.
Top Test Preparation Tech Companies in APAC
There are 3,949 Test Preparation Tech startups in APAC which include Physics Wallah, Adda247, Vedantu, Riiid, Testbook. Out of these, 260 startups are funded, with 83 having secured Series A+ funding, and 4 achieving unicorn status.
Over the past 10 years, an average of 293 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIT Delhi, IIT Bombay and IIT Kharagpur.
Here is the list of top Test Preparation Tech startups in APAC
Provider of online educational resources and test preparation for various exams. It delivers live classes, recorded sessions, and progress tracking dashboards. The company offers study materials, sample papers, and doubt-solving sessions. It provides resources for school, undergraduate, and postgraduate entrance exams.
Key facts about Physics Wallah
- Founded Year: 2016
- Location: Noida (India)
- Stage: Series B
- Total Funding till date: $312M
- Investors: WestBridge Capital, Hornbill Capital and 10 Others
- Latest Funding Round: Series B, Sep 20, 2024, $*****
- Tracxn Score: 84/100 What is this?
- Competitors Rank: 1 of 1,854 Competitors
2. Adda247
Provider of an online test preparation platform. It offers both a web-based platform as well as a mobile app for preparation. Its courses are available for examinations covering banking, SSC, CTET, and more, both Hindi and English. Its features include video lectures, online tests, study materials, updated current affairs questions, and practice quizzes. Its app can be downloaded via the Android platform.
Key facts about Adda247
- Founded Year: 2016
- Location: Gurugram (India)
- Stage: Series C
- Total Funding till date: $64.4M
- Investors: STL, WestBridge Capital and 11 Others
- Latest Funding Round: Series C, Sep 21, 2022, $*****
- Tracxn Score: 79/100 What is this?
- Competitors Rank: 3 of 6,769 Competitors
3. Vedantu
Provider of live interactive K–12 tutoring platform. Its offerings include two-way live online classes for students, covering CBSE, ICSE, state-board curricula and competitive exams such as JEE, NEET, NTSE, and Olympiads, using its proprietary WAVE. It also offers recorded sessions, quizzes, assignments, doubt-solving features, project-based learning, curated study materials and Master Talks sessions with achievers. The platform uses low-bandwidth audio-video streaming, interactive whiteboard tools, multi-teacher AI/ML-enhanced engagement analytics, real-time doubt resolution, gamified participation features like leaderboards and badges, and hybrid online–offline delivery options.
Key facts about Vedantu
- Founded Year: 2011
- Location: Bengaluru (India)
- Stage: Series F
- Total Funding till date: $337M
- Investors: Accel, Tiger Global Management and 42 Others
- Latest Funding Round: Series F, Sep 26, 2025, $*****
- Tracxn Score: 74/100 What is this?
- Competitors Rank: 2 of 1,886 Competitors
4. Riiid
AI-based platform offering instructor IT solutions. It offers solutions for content management, assessment management, student engagement prediction, and more.
Key facts about Riiid
- Founded Year: 2014
- Location: Mountain View (United States)
- Stage: Series D
- Total Funding till date: $247M
- Investors: DSC Investment, IMM Investment and 19 Others
- Latest Funding Round: Series D, May 24, 2021, $*****
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 1 of 6 Competitors
5. Testbook
Provider of online test preparation, live classes, and study material for various government and other competitive exams. It offers courses, mock tests, and study resources. The platform facilitates learning, practice, and improvement for students preparing for selections. It provides access to courses by teachers, daily live classes, study material, practice questions, and doubt resolution. The platform also offers test series with mock tests, performance analysis, and multilingual options.
Key facts about Testbook
- Founded Year: 2014
- Location: Gurugram (India)
- Stage: Series B
- Total Funding till date: $13.9M
- Investors: Bunch Microtechnologies, Arm International and 61 Others
- Latest Funding Round: Series B, Oct 31, 2022, $*****
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 2 of 227 Competitors
Companies founded year-on-year in the Test Preparation Tech sector in APAC
655 Test Preparation Tech startups in APAC were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2025 | 19 |
2024 | 98 |
2023 | 204 |
2022 | 323 |
2021 | 425 |
2020 | 655 |
2019 | 377 |
2018 | 289 |
2017 | 266 |
2016 | 280 |
Stage-wise distribution of Test Preparation Tech sector companies in APAC
Out of the total 3,949 Test Preparation Tech companies in APAC, 260 have secured funding. Among them, 83 have reached Series A or higher, and 59 to Series B or beyond.
Founded - 3,949
Funded - 260
Series A+ - 83
Series B+ - 59
Series C+ - 51
Company Stage | No. of companies |
|---|---|
Founded | 3,949 |
Funded | 260 |
Series A+ | 83 |
Series B+ | 59 |
Series C+ | 51 |
Let us walk you through our Sectors and other offerings
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Designed with precision for VCs, PE, IBs, Incubators, M&A, Innovation more
Funding Trends in the Test Preparation Tech sector in APAC
Total funding year-on-year in the Test Preparation Tech sector in APAC
The Test Preparation Tech sector in APAC saw a total funding of more than $9.77B in the last 10 years. The most amount of funding was in 2021 at more than $4.41B.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $52.4M |
2024 | $227M |
2023 | $273M |
2022 | $424M |
2021 | $4.41B |
2020 | $2.84B |
2019 | $487M |
2018 | $642M |
2017 | $151M |
Recent Funding Rounds in Test Preparation Tech in APAC
In the year 2025, till September 2025, Test Preparation Tech companies in APAC have raised $11M in equity funding across 7 rounds.
In the same period last year (i.e. till September 2024), Test Preparation Tech companies in APAC had raised $221M across 11 rounds.
So, 2025 has seen a 95% drop in funding in Test Preparation Tech companies in APAC as compared to 2024.
Here are some recent, important funding rounds in Test Preparation Tech companies in APAC:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series F | 5663 | Sep 26, 2025 | and 2 more | |
Seed | 2561 | Sep 05, 2025 | ||
Seed | 9393 | Aug 07, 2025 | and 2 more | |
Seed | 5629 | Jul 19, 2025 | ||
Seed | 9609 | May 26, 2025 |
Top Investors in Test Preparation Tech in APAC
Peak XV Partners is the top investor in Test Preparation Tech companies in APAC based on number of companies invested.
Here are some top investors in Test Preparation Tech companies in APAC:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Bengaluru (India) | ||
Bengaluru (India) | ||
Palo Alto (United States) | Vedantu and EduPristine | |
Thiruvananthapuram (India) | ||
Mumbai (India) |
_1583471524200.png?devicePixelRatio=2&height=20&width=20){kind=logo}
M&A activity in Test Preparation Tech sector in APAC
In the year 2025, till July 2025, 2 acquisitions happened in Test Preparation Tech sector in APAC. Last year, in 2024, a total of 3 acquisitions happened in Test Preparation Tech sector in APAC.
Here are some recent, important acquisitions in Test Preparation Tech sector in APAC:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jul 08, 2025 | ||
Business Acquisition | Feb 24, 2025 | ||
Business Acquisition | Dec 12, 2024 | ||
Business Acquisition | Jul 09, 2024 | ||
Business Acquisition | 2024 |
Acquisition trends in Test Preparation Tech sector in APAC
Here are the acquisition trends in Test Preparation Tech sector in APAC:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2025 | 2 |
2024 | 3 |
2023 | 3 |
2022 | 2 |
2021 | 9 |
2020 | 6 |
2019 | 1 |
2018 | 2 |
2017 | 3 |
2016 | - |
IPOs in Test Preparation Tech in APAC
In the year 2023, till January 2023, 1 IPO happened in Test Preparation Tech sector in APAC.
Here are some recent, important IPOs in Test Preparation Tech sector in APAC:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Jan 09, 2023 | Hong Kong Exchanges (HKG) | |
Apr 11, 2022 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Dec 07, 2020 | New York Stock Exchange (NYSE) | |
Mar 28, 2019 | Hong Kong Exchanges (HKG) |
Colleges which produce the most Test Preparation Tech companies in APAC
Companies founded by alumni from top colleges in the Test Preparation Tech in APAC
Most number of Test Preparation Tech startups in APAC have been founded by alumni from IIT Delhi, IIT Bombay and IIT Kharagpur.
College | No. of companies |
|---|---|
IIT Delhi | 52 |
IIT Bombay | 37 |
IIT Kharagpur | 19 |
IIT Roorkee | 18 |
BITS Pilani | 16 |
IIT Kanpur | 16 |
IIM Ahmedabad | 13 |
IIT Madras | 13 |
IIM Calcutta | 12 |
IIM Bangalore | 10 |
Total funding in Test Preparation Tech companies founded by alumni from top colleges in APAC
In the last 10 years, IIT Roorkee graduates' Test Preparation Tech companies in APAC have raised the most funding among top colleges. Tsinghua University alumni are second, and NMIMS alumni are third.
College | Total Funding |
|---|---|
IIT Roorkee | $1.22B |
Tsinghua University | $920M |
NMIMS | $880M |
IIT Bombay | $545M |
IIT BHU | $312M |
University of California (Berkeley) | $247M |
IIT Delhi | $94.1M |
IIM Ahmedabad | $28.9M |
IIT Kanpur | $25.8M |
IIM Bangalore | $23.9M |
Top News in Test Preparation Tech in APAC
•
Unacademy CEO Gaurav Munjal steps down; Sumit Jain takes charge
Business Standard•May 28, 2025•Unacademy, Airlearn
•
•
•
•
Prosus Remains Committed to Edtech Despite Byju's Write-OffDeccan Herald•May 23, 2025•Prosus, BYJU'S
•
BYJU’S CEO Byju Raveendran Announces New Vision: Focus on Classrooms, Not CourtroomsTechStory•May 18, 2025•BYJU'S
•
•
•
•
PrepInsta partners with 100+ educational institutes for student upskillingExpress Computer•Apr 21, 2025•Prep Insta, Adda247, GITAM, SRM and 10 others
