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Bengaluru-based education platform, ForeignAdmits has raised Rs 3.45 crore in series seed round funding led by Unicorn India Ventures.
The round also saw participation from well-known angels like 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, Mayank Sharma (India Head of Prodigy Finance).
Started in 2020 by Nikhil Jain and Ashwini Jain, ForeignAdmits provides Study Abroad guidance to Aspirants using a data-backed counseling process and peer-to-peer mentorship by international graduates & alumni networks.
The startup plans to primarily use the raised fund for product development and team expansion
Speaking on the funding in ForeignAdmits, Anil Joshi, Managing Partner, Unicorn India Ventures, said, “Higher education in India is more focused now and producing disciplinary experts and has grown remarkably. 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.”
Commenting on the fundraise, Nikhil Jain, Co-founder & 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 study abroad accessible and affordable to all high potential students.”
“Studying abroad should not be just an elitist’s dream and should be made accessible to all aspiring individuals who aim to achieve their dream of going to college,” he said.
Further adding to the funding, Nikhil said, “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.”