The startup aims to upgrade the product and develop stronger sales and marketing team with the funds raised.
Univariety, an edtech startup that helps schools provide career and college guidance to their students, on Wednesday announced an investment worth Rs 12.5 crore from Info Edge.
Univariety provides products, services, and counseling to students, schools, colleges, and educators.
Jaideep Gupta, Founder, Univariety, said,
Info Edge is truly a pioneer in the internet space and has wide-ranging expertise. I am thrilled to partner with them on our exciting journey. These funds will be utilised in developing a stronger sales and marketing system and in upgrading our product to suit the mobile environment fully. We are confident of the impact we have on our partner schools and now we will be able to reach out to a larger audience.
"Top colleges like IITs and IIMs are known for their placements and alumni network. Univariety is bringing that same awareness and those systems at the K-12 school level. We believe that thousands of schools are interested in shaping student success and aligning to future trends. Univariety can play a strong role in helping position such schools uniquely," said Hitesh Oberoi, Co-Promoter, MD and CEO of Info Edge.
The investment in Univariety creates a strong presence in the K-12 schools space and that will be complimentary to the other companies Info Edge has invested in. The earlier investor in Univariety is the People Combine Group which operates several IB and CBSE schools across India. It continues to remain invested in Univariety along with Info Edge.Info Edge has also invested in companies such as meritnation.com and more recently in nopaperforms.com. Their flagship brand in the education segment is shiksha.com which works with a large number of Indian and foreign colleges.
The global education technology market is expected to grow to $93.76 billion in 2020, at a CAGR of 16.72 percent during the forecast period from 2015 to 2020.
According to India Brand Equity Foundation, India occupies a crucial place in the global education ecosystem with over 1.4 million schools and 227 million students.
A total of $1.1 billion has been pumped into the education sector by private equity investors since 2005, according to a Kaizen equity fund report.