AdmitKard, an education technology startup that simplifies accessing higher education abroad, has recently raised INR 50 crore ($6 million) in its Series A round led by global EdTech investor firm GSV Ventures, according to a report.
The funding round was also backed by Marquee angels, including Cred’s Kunal Shah, direct-to-consumer unicorn Mamaearth’s Varun Alagh, along with a few existing angel investors.
With the fresh capital, AdmitKard is well-positioned to continue its rapid growth and further cement its position as a leading player in the EdTech space. The Noida-based firm plans to expand its team, invest in new technology and product offerings, and continue expanding its presence in key markets worldwide.
AdmitKard was founded in 2016 by IIT-IIM Alumni Piyush Bhartiya & Rachit Agrawal with an aim to mentor students in the college application process. It boasts of a robust technology platform to make the entire application process effortless and to enable one to apply from the comfort of the home. The startup simplifies study abroad admissions through its platform, which is based on data-backed algorithms which suggest to students the best possible universities according to their profile and preference. It helps students apply to more than 1,000 universities and colleges in countries including the US, UK, Canada, Australia, and New Zealand.
Commenting on the new fundraising, Co-founder of AdmitKard, Piyush Bhartiya, said:
We are using the proceeds to expand our product portfolio apart from admissions. The startup wants “go broader in terms of helping the students in financing education, scholarships, enabling them in getting accommodation, and various other challenges that they face while going through admissions.
Bhartiya added:
We are approaching the market in different ways. Students from more than 250 cities are going abroad from India. We are looking at new go-to-market strategies, which we will experiment with and look at having deeper reach in these cities. The startup runs on a freemium model, with its primary services available to all students. Educational institutions also pay the company a royalty fee for promotion and marketing. AdmitKard currently has about 200 employees. We’ll double the team size over the next 12 to 18 months.
The company claims to have served students from 26 states in India and other countries, including Sri Lanka, Nepal, Afghanistan, Nigeria, and Vietnam.
Rachit Agrawal, Co-founder of AdmitKard, added:
Our vision is to empower students to make informed career choices and use education effectively to achieve their goals. No one expert can know it all, and hence they have built an intelligent match-making layer on top of millions of data points gathered over the years and refreshed frequently. But data itself is insufficient to provide assurance and confidence in a pivotal life decision for which AdmitKard has nurtured a tight-knit community of Mentors (current international students) who guide these students and their parents by sharing their experiences.
Managing Partner of GSV Ventures, Deborah Quazzo, commented:
As the world becomes more connected and global, education is becoming increasingly important. AdmitKard is at the forefront of helping students navigate this complex landscape. We are excited to support AdmitKard’s mission to make education more accessible and help students achieve their dreams.
AdmitKard had last raised a $3 million round in April 2022. Prior to that, it raised $1.37 million from a clutch of angel investors in its seed funding round, which BCG Partners led.
