AdmitKard, an educational technology firm, has raised Rs 50 crore in a Series A round-headed by GSV Ventures and other investors. This is the company’s first investment for the year 2023.
In a news release, AdmitKard said that the money will be used for expansion into new markets, recruiting, and investments in new products and technologies.
AdmitKard supports students looking for admission to universities and colleges worldwide. It was established in 2019 by Piyush Bhartiya and Rachit Agrawal. The business uses cutting-edge technology and data science to provide students with individualized counseling, assisting them in selecting the universities, programs, and nations that would best help them reach their professional objectives.
The website of AdmitKard claims that it offers exam preparation, loans, lodging, and other services.
Throughout the years, AdmitKard has amassed millions of data points, on top of which it has constructed an intelligent match-making layer. It claims to have facilitated entry to more than 3,000 universities in more than 20 countries and assisted thousands of students with their admissions processes. Leverage Edu, which is supported by Blume Ventures, as well as other businesses, are competitors of the firm.
The operational scale of the four-year-old business increased 5X to Rs 3.47 crore in the fiscal year ending in March 2022, but its losses increased 2.89X to Rs 7.9 crore.
