It plans to focus more on international colleges and utilise the amount in further expansion of on-ground network in Tier-II markets.
Edtech platform CollegeDekho on Monday announced that it has raised another $2 million from ManCapital, GirnarSoft and other investors as a part of its third round of fundraise.
In 2016, it had raised $2 million from ManCapital, and $1 million from GirnarSoft in 2015.
The startup stated that it will use the amount to further strengthen its technology, expand collaboration with international colleges and to increase marketing activities, which will include more offline campaigns.
The online platform lets students compare colleges, select courses, determine cut-offs for their desired courses and access other career-related content. CollegeDekho also provides support to students to select the relevant career study option based on their strengths and guides them through the admission process.
Ruchir Arora, Co-founder and CEO, CollegeDekho, said, “Our endeavour is to ensure that students get a fair chance to connect their passion with the desired profession. At CollegeDekho.com, it has been our continuous effort to be a support system for a student from the start of the process. This round of funding is the reiteration of the trust our investors have in our vision and a clear indication that we are on the right path to success.”
Nikhil Malik, Partner, ManCapital said, “CollegeDekho is growing rapidly and we are pleased to be supporting a company that is committed to building a brighter future for Indian students and improving efficiency in the Indian education space. The education sector is poised for further growth and we believe there remains a lot of talent in the country that can benefit from improved support. CollegeDekho strives to identify students’ optimal education path so as to make a difference in the future.”
Amit Jain, Founder, GirnarSoft, “We have been very confident of CollegeDekho’s growth right from the beginning, and the rapid rate of expansion and innovation only reiterates their commitment to the sector. Also, with government’s focus on digital education, we can safely predict a disruptive evolution of the modern education scenario in the country.”
Partnered with universities like Lovely Professional University, AIT-Bangalore, Ajeenkya D Y Patil College in Pune, JECRC University-Jaipur, Jagran Lake University-Bhopal, CollegeDekho’s attempt is to provide expertise and guidance to students so that they can understand their true potential and and make sound and informed decisions.
In last two years, CollegeDekho claims to have guided more than one lakh students nationwide and has emerged as a leading online platform to provide guidance in the education sector. It has a strong hybrid presence, with on-ground cafes in five major cities: Patna, Ranchi, Lucknow, Guwahati and Srinagar.
The education sector in India is over $90 billion and is growing at a healthy rate of 15 percent CAGR. It is estimated that by 2020, India will have the world’s largest tertiary-aged population and the second largest graduate talent pipeline globally. Higher education contributes around 60 percent to this sector and is poised for a growth of around 18 percent CAGR. It is safe to say that the transformation of the Indian education industry is happening gradually from traditional brick-and-mortar institutions to digital platforms.
Similar platforms include Shiksha, Careers360, Collegesearch.in, Eduluk, among others.