Online learning platform, ixamBee, on Wednesday announced that it will be merging with competitive exams coaching provider, TargetRBI.
Following this merger, ixamBee aims to strengthen its network to position itself as a top platform providing government services exams. In addition, this acquisition will provide iamBee’s student users to also undertake coaching for competitive exams.
“We are extremely delighted to announce the merger of TargetRBI with ixamBee. With TargetRBI’s education module, ixamBee’s learning Experience (iLX) will aim to become the most preferred online learning course in the government job exams,“ said Chandraprakash Joshi, co-founder, ixamBee.
Started in 2012, TargetRBI provides online courses for Reserve Bank of India, National Bank for Agriculture and Rural Development (NABARD), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA), State Bank of India (SBI), and other regulatory body exams.
“70 million students appear for competitive exams every year. The majority of these students come from small towns and villages. With ixamBee’s quest to take online education to real Bharat, I feel privileged to join hands with ixamBee to create synergies by using TargetRBI’s extensive pedagogy experience and ixamBee’s strong technology platform that has 6 million users,” said Susheel Ragade, founder and director, TargetRBI.
Last month ixamBee raised funds from Mumbai Angels Network. Narendra Shyamsukha from JITO Angel Network and existing investor Keyur Joshi, co-founder, MakeMyTrip, also participated in the latest round.
Earlier this week, ixamBee also onboarded ex-regional director of RBI, Dr. Sanjeev Sharma as a senior advisor for its career guidance platform.
Recently, India’s most valued edtech startup BYJU’s also made its entry in the competitive exam space by acquiring Aakash Educational Services Ltd (AESL) for about $1 billion. Last year, rival Unacademy made close to six acquisitions in test prep space, while Amazon India made an entry in the segment with Amazon Academy.
