Bengaluru-based ed-tech startup Lytmus AI has successfully raised ₹5 crore in a pre-seed funding round led by Boundless Ventures. According to reports from Business Standard, the company was founded by Ajit Kumar and Praveen, both graduates from Indian Institute of Technology (IIT) Bombay. The startup creates AI mentors trained on the teaching styles and content of top educators, with its core offering centered around AI-powered 'teacher twins' that can interact with students round-the-clock. The platform is currently focused on students preparing for the National Eligibility cum Entrance Test (NEET) and is looking to expand its AI-powered learning platform for medical entrance exam aspirants.
As reported by Business Standard, 60% of the fresh capital will be invested in AI development and talent acquisition, while the remaining 40% will be allocated towards operations and growth initiatives. Cofounder and CEO Kumar stated that the company has grown five times in the last 45 days as it moves towards the product-market fit stage. The platform currently focuses on students preparing for the National Eligibility cum Entrance Test (NEET) and plans to expand its AI mentor offerings, explore regional language opportunities, and reach more students over the next 12 months.
According to Kumar's statements to Business Standard, Lytmus currently has over 17,000 users, with the top 30% spending an average of 2.5 hours daily on the platform. The platform delivers over 100 marks of average improvement in student performance. The platform features three educators, each associated with different subjects for NEET preparation - physics, chemistry, and biology. The company is targeting 100,000 students by the end of the current academic cycle.
As reported by Business Standard, while the platform initially launched as a free offering, it plans to introduce a subscription model later this academic year. The startup is testing a monthly plan priced at ₹499 and an annual package priced at ₹4,500, covering NEET subjects. Kumar noted that the subscription-based approach is particularly suited to students in Tier-II, III, and IV cities, where users are comfortable making smaller recurring payments.
According to Kumar's statements to Business Standard, for next year, the startup plans to remain focused on the NEET preparation market. However, expansion into adjacent segments, such as engineering entrance examinations (like Joint Entrance Examination) and other test-preparation categories, remains a longer-term opportunity. The investment marks the 10th portfolio company for Boundless Ventures, which launched its ₹300-crore fund less than a year ago and aims to back 25-30 startups over the next two to three years.
