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India-based edtech startup AdmitKard has announced that “It has raised Rs 10 crore in pre-Series A round funding.”
The funding was raised in participation from The founders of renowned ed-tech start-up-like -Vamsi Krishna & Pulkit Jain of Vedantu, Mayank Kumar of upGrad, Gaurav Munjal, Roman Saini & Sumit Jain of Unacademy, Tanushree Nagori, Aditya Shankar & Ravi Sekhar of DoubtNut, Akshay Saxena of Avanti, and other prominent investors including Pankaj Chaddah (ex-Zomato), Suhail Sameer & Dhruv Dhanraj Bahl of BharatPe, Vijay Arisetty (MyGate), Anand Chandrasekaran (ex-Snapdeal, Facebook), Sameer Guglani of Morpheus Gang, BCG Partners, MD of JPMorgan and others.
Speaking on the fundraise, said Mr. Rachit Agrawal, Co-Founder of AdmitKard said,
“During the pandemic, we realized that students were not able to travel abroad due to the closed international borders. Hence we doubled down our effort on ensuring the students’ experience in our long drawn funnel gets better. To enable that we realized the guidance to the students’ needs to be product-driven instead of being dependent on humans. We sought guidance from our mentors from other EdTech companies and de-skilled the entire counseling process, solving a major problem of counselors in this industry.”
“I have been a mentor to Rachit & Piyush for a long time now and have seen the journey of AdmitKard. Their focus on productizing student guidance and de-skilling the role of a counselor is a big win as it solves a very fundamental problem of talent quality and standardization at scale. I am happy to be a part of their growth journey” Mr. Vamsi Krishna, Co-Founder, Vedantu commented.
“AdmitKard has chosen the right category that has been waiting to be disrupted and addressing it with great service, unlocking desired value for students. The team is well placed to disrupt the space which is unorganized and dominated by offline players with a great PMF and strong plans to scale and hence have decided to back it” Ravi Shekhar KV, Co-Founder DoubtNut added.
Commenting on the investment, Dhruv Dhanraj Bahl, COO of BharatPe said, “As someone who has studied abroad extensively and understands the challenges one faces from discovering the right program to arriving on campus, I am excited about what AdmitKard is building. Their product-first approach to democratizing access to global education is what our youth need today.”
” We witnessed an 1100 percent hike in the number of queries pouring in. We have seen spectacular growth and kudos to our automation, we were able to handle them well. Now the focus is on growth and hence we would be raising a bigger round. This is more like a mentors and well-wishers round. We are fortunate to have credible names from the ed-tech sector itself and other marquee angels backing us today. We have touched ARR of USD ~2Mn in June 2021 and are on track to hit ARR of USD ~8Mn by March’22,” Piyush Bhartiya- Founder & CEO, AdmitKard added.
Including the current round, the startup has raised a total of INR 17 Cr and has created a strong community of international students and students looking to study abroad.