Funding Alert: Edtech startup CollegeDekho raises $8 M in Series B funding

Funding Alert: Edtech startup CollegeDekho raises $8 M in Series B funding

CollegeDekho raises $8 M in Series B funding

Gurugram-based education technology startup has raised $8 million in its Series B funding led by existing investors GirnarSoft, London based Man Capital, and others. Both the investors had also led a $2 million Series A round in CollegeDekho in 2018.

CollegeDekho, which is also the parent company of auto classifieds startup CarDekho was founded by Ruchir Arora, Saurabh Jain, Rohit Saha, and Rajiv Singh in 2015. 

CollegeDekho offers both B2B and B2C solutions. Under its B2C model, the startup provides end-to-end admission solutions to students, and the B2B model offers digital marketing solutions (DMS) to clients. It also offers information about colleges, courses, entrance exam details, admission notifications, changes in exam pattern, scholarships and other related topics. Users can also get advice from in-house expert counselors who provide one-on-one counseling to users on various aspects of the university search and career building.

In 2016, it had secured $2 million in pre-Series A funding from Man Capital, and $1 million in seed funding from GirnarSoft in 2015. With this latest round of Series B funding, CollegeDekho’s total funds raised stands at $13 million.

The company plans to use the latest round for expansion, research, product development, and technology enhancement. The company is focused on expanding its services in Tier 2 and Tier 3 cities such as Pune, Jaipur, Nagpur, and Bhopal. Currently, it has a strong hybrid presence, with on-ground cafes in four major cities: Patna, Ranchi, Lucknow, and Guwahati.

Ruchir Arora, cofounder, and CEO, CollegeDekho, said, “The company has grown by 100% every year for the last 3 years, and we keep focussing on accelerating this growth. With our reach expanding nationally and internationally, we are excited to put the company on a rapid growth trajectory.”

Commenting on the investment, Amit Jain, Founder GirnarSoft said, “Guided counseling services are scarce in India, and only 2-3 percent students have access to this data currently. We are certain that as the education sector continues to grow rapidly, CollegeDekho will play an important part in bridging this gap and shaping the future of students in our country.”

The education market in India was valued at $100 billion in 2018 and is expected to nearly double to $180 billion by 2020. Interestingly, about 77% of the total funding has been poured into just four edtech startups — BYJU’s, Toppr, Unacademy, and Vedantu. Some other notable players are Ei-India, Cuemath, Simplilearn, Eduvanz, Meritnation, Edupristine.