[Funding alert] CollegeDekho closes Series B round at $35M

Gurugram-based platform for college admissions and college services CollegeDekho announced on Wednesday that it was closed Series B Financing with Disrupt ADQ and QIC came aboard recently.

the $ 35 million (260 billion rupees) was led by Winter Capital, ETS Strategic Capital – the private equity investment arm of ETS (inventor of TOEFL® tests and GRE® General Test), Calega and existing investor Man Capital.

CollegeDekho plans to use the funds to further improve its offerings for students and colleges both in India and abroad. The company will increase its investment in products and technology while expanding into new industries such as ed-fin-tech, student dormitories, and coaching for higher education. It is also considering expanding its study abroad services into global markets. In addition, the company will use the funds raised for strategically sensible acquisitions and consolidations.

Ruchir Arora, Founder and CEO, CollegeDekho, called,

“Upon successful completion of Series B funding, we will expand our team and platforms to serve a greater number of students and colleges. We will also increase our investment in products and technology while driving our growth in our new industries such as education loans, student dormitories and college coaching. Even if we redouble our efforts to expand our reach in the Indian market, we will also consider expanding our presence abroad. “

Founded in 2015, CollegeDekho has set itself the task of institutionalizing student counseling in India. It connects prospective students with universities using its proprietary technology and the AI-based conversation bot. The platform for shared application forms enables students to apply to multiple universities with a single click. For students abroad, CollegeDekho offers a full range of services, from profiling, exam preparation, to application assistance, university selection and visa support.

CollegeDekho recently launched zero percent EMI education finance and insurance products to provide more students with access to an education of their choice. The platform helps colleges by making their admission more efficient and predictable. The company plans to build services to help students with college coaching as well as student accommodation.

Anton Farlenkov, Managing Director at Winter Capital Advisors, added,

“We are pleased to welcome ADQ and QIC together with ETS Strategic Capital as our co-investor in CollegeDekho. We are convinced that the addition of such solid partners to the investor pool will further strengthen CollegeDekho’s chances of success and prove the value of investing in Edtech, which will be worth 10 billion dollars 2.5 billion today over the next 5-10 years. We see our investment in CollegeDekho as promising and fit well with our strategy of adding dynamic, high quality assets to our investment portfolio. “

“We continue to identify and invest in companies at home and abroad whose missions and long-term vision align with those of ETS,” said Ralph Taylor-Smith, Managing Director of ETS Strategic Capital.

Mohamed Mansour, Chairman of Man Capital, commented,

“CollegeDekho is at the forefront of a fast growing and growing edtech market in India. In addition to the exponential growth in college admissions and the broader Indian edtech market, we are also seeing a surge in integrated solutions for college students around the world. We believe CollegeDekho is very well positioned to expand its services and become a leading global player in the years to come. ”

According to the company, the university market accounts for over 50 percent of the Indian education market. At $ 135 billion in FY20, it is larger in value than the K-12 market. With India’s gross higher education enrollment rate expected to rise to 50 percent over the next decade, along with NEP-led initiatives, the higher education market is expected to grow rapidly in the years to come.

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