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by IANS |
New Delhi, Dec 1 (IANS) Online higher education platform CollegeDekho on Wednesday said it has closed its Series B funding of $35 million to further improve its offerings for students and colleges, both within India and abroad.
The round was led by Winter Capital, ETS Strategic Capital, Calega and existing investor Man Capital. Disrupt ADQ and QIC also came on board.
"We will expand our team and platforms to serve a larger number of students and colleges. We will also increase our investment in products and technologies, while fueling our growth in our new verticals such as education loans, student accommodation and coaching for higher education," said Ruchir Arora, Founder and CEO, CollegeDekho.
The company will also use the funds raised for acquisitions and consolidation that make strategic sense.
Founded in 2015, CollegeDekho offers a full range of services from profile building, test preparation, application assistance, university selection and visa assistance.
It recently launched zero per cent EMI-based education financing and insurance products to enable more and more students to get access to an education of their choice.
The higher education market accounts for over 50 per cent of the Indian education market.
"Edtech is poised to reach $10 billion in size in the next 5-10 years, from about $2.5 billion today. We see our investment in CollegeDekho as promising and well aligned with our strategy to expand our investment portfolio via dynamic, high-quality assets," said Anton Farlenkov, Managing Director at Winter Capital Advisors.
