Total amount raised
$17.7 Millions
Latest funding date
02/01/2023
Location
AdmitKard has successfully raised funds through multiple rounds, with the most recent being a Seed round closed on February 22, 2023. The platform is dedicated to making global education more accessible by offering personalized guidance and support to students.
With backing from 23 investors, including Callapina Capital and GSV Ventures, AdmitKard continues to grow and expand its services. Keep reading to explore the intricacies of AdmitKard's fundraising journey and the investors backing this innovative platform.
What Is AdmitKard?
AdmitKard, founded on November 15, 2016, is an education counseling portal based in Noida, Uttar Pradesh, India. The company operates in the education, higher education, and information technology sectors, among others.
Founded by Piyush Bhartiya and Rachit Agrawal, AdmitKard employs between 251-500 people. The platform leverages digital data and analytics to simplify the study abroad admission process, offering services like university shortlisting, IELTS preparation, and education loans.
How Much Funding Has AdmitKard Raised?
- Seed Round
- Amount Raised: $1M
- Date: August 2019
- Lead Investors: Growth DNA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and develop its initial offerings.
- Seed Round
- Amount Raised: ₹100M
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's services and reach more students.
- Venture Round
- Amount Raised: ₹250M
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance its technological capabilities.
- Series A
- Amount Raised: ₹500M
- Date: February 2023
- Lead Investors: GSV Ventures
- Valuation at Round: ₹250 crore
- Motivation Behind the Round: To expand product offerings beyond admissions, including financing education, scholarships, and housing.
- Seed Round
- Amount Raised: $6M
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expand its reach to more students.
Total Amount Raised: $7M and ₹850M
Current Valuation: ₹250 crore
Key Investors
- GSV Ventures
- Details: GSV Ventures is an international edtech investor known for supporting innovative education technology companies.
- Investment Focus Areas: Education technology, AI, machine learning.
- Notable Investments: Not publicly disclosed.
- Kunal Shah
- Details: Kunal Shah is the founder of Cred, a prominent fintech company that focuses on credit card payments and rewards.
- Investment Focus Areas: Fintech, consumer tech, high growth potential startups.
- Notable Investments: Cred.
- Varun Alagh
- Details: Varun Alagh is the co-founder of Mamaearth, a direct-to-consumer unicorn specializing in personal care products.
- Investment Focus Areas: Consumer goods, direct-to-consumer brands, strong consumer engagement.
- Notable Investments: Mamaearth.
- Vamsi Krishna and Pulkit Jain
- Details: Vamsi Krishna and Pulkit Jain are the founders of Vedantu, an online tutoring platform that offers live classes for students.
- Investment Focus Areas: Edtech, online education.
- Notable Investments: Vedantu.
- Gaurav Munjal and Roman Saini
- Details: Gaurav Munjal and Roman Saini are the founders of Unacademy, a leading online education platform offering courses for competitive exams.
- Investment Focus Areas: Edtech, online learning.
- Notable Investments: Unacademy.
What's Next for AdmitKard?
AdmitKard is poised for significant growth as it expands its services beyond admissions to include financing, scholarships, and housing. This expansion opens up vast opportunities, allowing the company to reach students in over 250 cities across India. With a recent Rs 50 crore funding round, AdmitKard plans to triple its team size, enhancing its ability to serve a broader student base.
Future fundraising seems likely as the company scales its operations and diversifies its offerings. However, challenges such as navigating a tough macroeconomic climate and competing with established players like Byju's and Unacademy remain. Despite these hurdles, AdmitKard's innovative approach and strategic growth plans position it well for continued success in the edtech sector.
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