FIIT JEE raises 100 crores from Matrix Partners

July 13, 2009
By sinha

IIT Coaching institute, FIIT JEE has raised Rs. 100 crores from Matrix Partners. FIIT JEE has in a way ‘corporatised’ the engineering entrance examination business and this is their first round of funding.

Started in 1992 by DK Goel (an IIT D alumnus), the turning point for the company was in the year 1997 when 762 students from this institute made it to the IITs. The company has now expanded into several other programs like NTSE, SAT etc.

Now that we have more IITs and seats, coaching instututes will rake in moolahs (even though New IITs are a Disaster).

Matrix Partners earlier investment includes Tree House, asklaila, Seventymm, ItzCash Card, vJive Networks, Yo! China and Brand Marketing India (BMI)

Read: 1 in 10 IITian is an Entrepreneur

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               About the author - Ashish Sinha is a Startup Mentor/Product Strategy Coach, and the founder/chief editor of pluGGd.in. He has launched/managed couple of products (consumer as well as enterprise) in US and India, and now consults with startups/small businesses on their product/media strategy. He can be reached at: ashish (at) pluGGd.in [+91 98452 06443]

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2 Responses to “ FIIT JEE raises 100 crores from Matrix Partners ”

  1. Sriram Vadlamani on July 13, 2009 at 3:31 pm

    Looks like education and elearning is the flavor of the month.
    http://trak.in/tags/business/2009/07/13/elearning-is-it-the-way-forward/

    Reply
  2. Tarun Dua on July 13, 2009 at 3:46 pm

    At this level it just makes sense for FIIT JEE to just start their competitor to IITs than worry about JEE at all.

    Reply

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