CollegeDekho intends to use the raised capital to strengthen its student and college offerings, boost product and technology investment, expand globally, and develop new verticals.
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CollegeDekho funding news
CollegeDekho, a Gurugram-based portal for college admissions and education services, has secured $26.5 million (Rs 200 crore) in an ‘ongoing and oversubscribed’ Series B funding round headed by Winter Capital Partners, ETS Strategic Capital, Calega, and previous investors Man Capital and Rajeev Chaba.
The funds will be used to strengthen the startup’s services for students and colleges, increase product and technology investment, expand globally, and create new verticals such as Ed-Fin-Tech and student housing.
According to CollegeDekho, it has already developed zero percent EMI-based education finance and insurance solutions to help more students acquire the education they want.
“CollegeDekho is in an exciting stage of growth in its aim to connect students and colleges across geographies,” stated Ruchir Arora, Founder and CEO of CollegeDekho. Winter Capital, ETS, and Calega have joined the CollegeDekho family, and we appreciate Man Capital and Rajeev Chaba’s continuing faith in us. Their worldwide experience and unique edtech insights will be useful to us as we continue to develop. The overwhelmingly positive reaction we’ve received from students, parents, and universities has energized us to continue developing world-class goods and services for them. All of this would not have been possible without the CollegeDekho family’s dedication and enthusiasm.”
“We aim to invest in making our goods and services even more beloved for our students and universities, as well as grow into new regions and business sectors, with this cash-raising,” he added.
In May 2019, the company secured $8 million from previous investors GirnarSoft, London-based Man Capital, and others. In 2018, both investors led a $2 million Series A investment in CollegeDekho.
“We are thrilled to be making our debut in India with an investment in CollegeDekho – one of the fastest-growing education service providers in India,” said Anton Farlenkov, Managing Director at Winter Capital Advisors. There are around 52,000 colleges in India, with around 66 percent of them being private educational institutions. We estimate that India’s edtech sector will grow to $10 billion in the next 5-10 years, up from the present market size of $2.5 billion. This investment appears to be promising and aligns nicely with our objective of diversifying our investment portfolio through dynamic, high-quality assets.”
IBIS Capital, a professional investment and corporate finance consulting organization focusing on global media and education, and Cilix Capital, an international investment banking business that assists firms and institutional investors with fundraises and M&A, guided this Series B financing transaction.