Test preparation platform OnlineTyari has today announced the acquisition of Plix, a photo sharing application in a cash and equity deal worth around $1.5 million.
As a part of this acquisition deal, the seven member team of Plix will now be joining OnlineTyari within a month. After joining, the team will work on technologies and come up with different use cases for test preparation.
Commenting on the investment, Vipin Agarwal, chief executive of OnlineTyari, said,
We wanted to bring in technology expertise we did not have. We zeroed in on Plix because of the technology they created on image and pattern recognition.
Plix, which is backed by Instalabs – an apps incubator, was launched eight months ago as an application that uses facial recognition tech to help users request their pictures from friends.
Apurv Chawla, founder of Plix, said,
The core technology is pattern recognition, which would help the user understand which of their pictures are with their friends. This same technology can be used on the platform of OnlineTyari to recognize patterns and personalise tests, among other things.
OnlineTyari was founded in 2014 by Vipin Agarwal and Bhola Ram Meena. They have worked in an advisory role with the Government of India on the Digital India initiative. It is a multilingual platform for various entrance tests for public sector units, government jobs and higher educational institutes.
Since its launch, OnlineTyari claims to have become one of the fastest growing ed-tech platforms today, growing ten times in the past 12 months in terms of the average time spent by users on the platform every month.
A few month ago, the company had received $2.1 million in funds, in a round that was led by Michael & Susan Dell Foundation. The company has planned to use funding to expand its vernacular offering, widen the exam coverage and to strengthen its technology and analytics engine.
The platform is currently available in English, Hindi and Marathi languages. As per the company, it is recording around 4 lakh unique users per day on its platform.
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