Delhi-based edtech startup NeoStencil has acquired TestCafe, an analytics-based test practice portal. The acquisition will help the startup improve the testing capabilities and enhance the way in which competitive exams participants practice and check their preparedness.
NeoStencil was founded in December 2014 by Love Beejal and Kush Beejal. The startup provides access to material for UPSC test preparation. It provides live as well as recorded classes, test series and study material from civil services institutes and teachers, along with discussion forums.
The founders claim the edtech venture to be an asset-light and scalable model which leverages technology to solve a real problem for both students and teachers. On one hand, it enables teachers to extend their reach beyond physical boundaries thus creating a win-win situation for the stakeholders. On the other hand, it adds value to students who find difficulty in relocating to coaching capitals and who have no option but to join sub par, local teachers,” he added.
With this acquisition, NeoStencil is poised to become the ultimate podium to help students master test-taking skills, as claimed in an official statement. As per Inc42 Datalabs Report for H1 2017, edtech took the fourth spot with 23 deals in the sector. The edtech market is further pegged to have a potential to touch $1.96 Bn by 2021 from where it stands now i.e. $247 Mn. With the acquisition of TestCafe, NeoStencil now directly competes with startups such as Unacademy, Coursera, Udacity and more.