CollegeDekho Closed Series B Funding Round
News Desk, News Nation 360 : CollegeDekho, India’s largest college admissions and higher education services platform, closes its Series B funding with Disrupt ADQ and QIC coming on board recently. The USD 35 million (~INR 260 crore) round has been led by Winter Capital, ETS Strategic Capital - the private equity investments arm of ETS (creator of the TOEFL® tests and GRE® General Test), Calega and existing investor Man Capital. Founded in 2015, CollegeDekho is on a mission to institutionalize students’ counselling in India. It connects prospective students with colleges using its proprietary technology and AI-based conversation bot. Its Common Application Form platform, which enables students to apply to multiple colleges with a single click, is the largest of its kind in India. For Study Abroad students, CollegeDekho offers a full range of services from Profile Building, Test Preparation, to Application Assistance, University Selection and Visa Assistance. In his comments about the closing of Series B funding,
Ruchir Arora, Founder & CEO, CollegeDekho, said that they believe that their sound business model, innovative products, their commitment to excellence in service delivery, and growing Student base continue to help them win the trust of investors who have global exposure and experience in higher Ed-tech. Their participation in their growth story is a testimony that they are delivering on their mission of transforming the higher education journey of students. Following the fruitful completion of Series B funding, they will be expanding their team, and platforms to serve a larger number of students and colleges. They will also increase their investment in products and technologies while fueling their growth in their new verticals such as education loans, student accommodation and coaching for higher ed. Even as they double down on their efforts to increase their reach in the Indian market, they will also consider expanding their presence abroad. CollegeDekho is planning to use the funds to further improve its offerings for students and colleges both within India and Abroad. The company will increase its investment in products and technology while growing new verticals like Ed-Fin-Tech, student accommodation and coaching for higher education. It is also considering expanding its study abroad services in global markets. The company will also use the funds raised for acquisitions and consolidation that make strategic sense. The higher education market accounts for over 50% of the Indian education market. At US$ 135 billion in FY20, it's larger than the K-12 market in value terms. With India's higher education Gross Enrollment Ratio targeted to grow to 50% in the next ten years along with the initiatives led by NEP, the higher education market is expected to grow at a fast pace over the coming years.
Pic : Courtesy
Report : Anustup Kundu