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Funding alert
- as ifStart Story | December 21, 2022
CollegeDekho, a Gurugram-based college admissions and higher education services website, has raised Rs 73.3 million (around $9 million) from Geneville Ltd. This is the company’s first investment round of the year.
According to a regulatory filing with the Registrar of Companies, College Dekho’s board of directors gave a special resolution to raise (RoC) 8,843 Series B1 preference shares to Geneville Ltd at a price of Rs 82,927.98 per share, or around $9 million. ).
CollegeDekho raised $35 million in Series B funding last December. Winter Capital, ETS Strategic Capital—the private equity investment arm of ETS (developer of the TOEFL and GRE tests), Callega and current investor Mann Capital led the round.
The new round appears to be a continuation of the Series B round. According to Tracxn, the edtech company has already raised $47 million. The Series B funds will also be used for acquisitions and mergers, the company said. CollegeDekho then acquired three startups, IELTSMaterial, Getmyuni and PrepBytes.
CollegeDekho, founded in 2015 by Ruchir Arora, Rajiv Singh, Saurabh Jain and Rohit Saha, aims to institutionalize student counseling in India. It uses its own technologies and an AI-powered chatbot to connect prospective students with institutions. CollegeDekho is an education company specializing in college admission, university admission, student counseling, competitive exam preparation and one-click education solutions.
According to Tracxn, during the funding summer, edtech saw a 39% drop in donations by 2022. About 70% of the year’s edtech funding came from five $100 million+ rounds raised by BYJUS, UpGrad, LEAD and PhysicsWalla.
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