The firm said the fresh funds will help it add new verticals like ‘Ed-Fin-Tech and student accommodation’ to its existing offerings
NEW DELHI :
CollegeDekho, a college admissions and education services platform Wednesday said it has raised $26.5 million (around Rs.200 crores) in an ongoing series-B funding led by Winter Capital Partners and ETS Strategic Capital.
Besides existing investor Man Capital, Rajeev Chaba and others also participated in this funding round. The company had last raised $8 million in May 2019.
The firm said the fresh funds will help it add new verticals like “Ed-Fin-Tech and student accommodation" to its existing offerings. Besides it plans to improve its offerings for students and colleges, increase its investment in product and technology, expand internationally.
“We are excited to be making a debut in India with an investment in CollegeDekho - one of the fastest-growing education service providers in India, with an exceptional traffic, currently estimated at 1.5 million visits per month. India has about 52,000 colleges, of which around 66 percent are private educational institutions. We believe that India’s Ed-Tech industry is poised to reach $10 billion in size in the next 5-10 years, compared to the current market size of about $2.5 billion. We see this investment as promising and well aligned with our strategy to expand our investment portfolio via dynamic, high-quality assets," said Anton Farlenkov, Managing Director at Winter Capital Advisors.
“We welcome Winter Capital, ETS and Calega to the CollegeDekho family and thank Man Capital and Rajeev Chaba for their continued trust in us. Their global experience and precious insights in Ed-Tech shall be invaluable in our growth journey. With this fund raise, we plan to invest in making our products and services even more lovable for our students and colleges, as well as expand into new geographies and business verticals," said Ruchir Arora, founder and chief executive of CollegeDekho.
Ralph Taylor-Smith, Managing Director of ETS Strategic Capital said the investment firm will “continue to identify and invest in companies both domestically and internationally whose missions and long-term vision align with that of ETS". “We’re pleased to further expand the ETS portfolio with this investment in service of the organization and focus on making equitable education available to all learners at all stages, globally," he added.
ETS Strategic Capital serves as the private equity investment and M&A execution arm for ETS, the global body that conducts exams like TOEFL® and GRE®.
CollegeDekho’s ed-tech platform connects prospective students with colleges using its proprietary Technology and its AI based conversation bot. CollegeDekho’s Common Application Form (CAF) platform also enables a student to apply to multiple colleges with a single click. Besides it also offers support to foreign education aspirants and provides Visa Assistance.