[Funding alert] Data-driven education platform ForeignAdmits raises Rs 3.45 Cr led by Unicorn India Ventures
Bengaluru-based, which offers personalised study abroad guidance to aspirants, has raised Rs 3.5 crore in a seed round led by Unicorn India Ventures.
The round also saw participation from RiDiK Technology from Singapore, Manoranjan Mohapatra, Kumar Siddhartha (CEO, Greytrix), Chandra Shekhar Sharma (HoD, Physics, Reliable Institute, Kota; a division of Allen), Sudhanshu Mishra, Sagar Gandhi, and Mayank Sharma (India Head of Prodigy Finance).
Started in 2020, ForeignAdmits is a data-driven platform providing authentic study abroad guidance to aspirants using a data-backed counseling process and peer-to-peer mentorship by international graduates and alumni networks.
Some of the well known alumni networks that ForeignAdmits works with are Columbia, Duke, CMU, Monash, University of Toronto, and ASU. The company focuses on the overall aspiration of the GenNext, taking them from aspirants to worthy candidates.
ForeignAdmits is founded by IIT alumni and international graduates Nikhil Jain and Ashwini Jain. It is currently present in six cities, including Mumbai, Pune, Bengaluru, Hyderabad, and Kolkata.
Anil Joshi, Managing Partner, Unicorn India Ventures, said,
“Higher education in India is more focused now; it's producing disciplinary experts and has grown in a remarkable way. The Gross Enrolment Ratio in higher education has been significantly improving every year. With this thought, we have led the round in ForeignAdmits as the education platform is process-focused and we have first-hand seen the impact it has made since its inception.”
ForeignAdmits, which was incubated at FIIRE, Goa, aims to make global education a reality for every deserving student.
ForeignAdmits has a "Mentor Mentee Connect''- a personalised mentorship product for aspirants from quality and verified mentors of top universities of their choice.
The aim is to make processes transparent, organised, and data-backed. This ensures that students not only land up with multiple admits but also land in their college with better awareness of their chosen career paths and colleges.
Nikhil Jain, Co-founder and CEO, Foreign Admits, said,
“We want to transform and disrupt the $90 billion global higher education industry by creating the largest online student community to make studying abroad accessible and affordable to all high potential students. Our mission is to enable 100 million students in India with quality mentorship to help choose a better career by providing a cutting-edge and comprehensive guidance platform for students aiming to pursue higher education in the best universities of the world.”
ForeignAdmits has grown 10 times in the last one year. Currently, it has close to one lakh MAU and 1.5 lakh user traffic per month, registering an organic growth of 650 percent in user base and traffic in 2021.
In the next 12 months, ForeignAdmits aims to guide over 25,000 students in their foreign education cycle through tech-enabled counseling processes. It also plans to empower over 500 counselors to help students with proper guidance through our admission counselling products.