Business News/ Companies / News/  AdmitKard raises 10 cr from group of investors

Edtech platform AdmitKard has raised 10 crore in pre-series A Round from a group of angel investors comprising founders and senior officials of education technology firms.

The round witnessed participation from the founders Vedantu, upGrad, Unacademy, DoubtNut, Avanti. Other angel investors include Mindhouse co-founder Pankaj Chaddah, Bharatpe CEO Suhail Sameer, Bharatpe COO Dhruv Dhanraj Bahl, MyGate founder Vijay Arisetty, former Facebook senior official Anand Chandrasekaran etc.

"We witnessed a 1100 per cent hike in the number of queries pouring in. This is more like a mentors and well-wishers round. Now the focus is on growth and hence we would be raising a bigger round. We are fortunate to have credible names from ed-tech sector itself and other marquee angels backing us today," Admitkard founder and CEO Piyush Bhartiya said in a statement.

The company helps students in getting admission overseas. Bhartiya said that the company has touched an annual revenue rate (ARR) of around 14 crore in the month of June 2021 and is on track to hit ARR of around 60 crore by March 2022. The company plans to utilise the fund for product development and team expansion. With this round, Admitkard has raised a total of 17 crore.

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Updated: 13 Jul 2021, 10:21 PM IST
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