Edtech platform CollegeDekho, owned by Girnarsoft Education Services Pvt. Ltd has raised $9 million (Rs 73.34 crore) by existing investor Winter Capital Partners (WCP) in an ongoing round.
"The edtech startup’s revenue reached nearly Rs 100 crore in FY22 and is expecting to double it along with turning operationally positive by the next fiscal," said Ruchir Arora, co-founder and chief executive officer, CollegeDekho
In November 2021, CollegeDekho raised $35 million in a Series B round which was led by Winter Capital, ETS Strategic Capital - the private equity investments arm of ETS, Calega and Man Capital. Cumulatively, prior to this funding round, CollegeDekho has raised over $45 million in funding so far.
CollegeDekho was founded in 2015 by Ruchir Arora, Saurabh Jain and Rohit Saha. It enables students to apply to multiple colleges has assisted around 50,000 students to get enrolled in over 1,500 colleges, the company said in its statement.
CollegeDekho has undertaken a slew of acquisitions as well, for instance, it acquired coding platform PrepBytes for an undisclosed sum in March 2022. It also acquired Getmyuni and IELTSMaterial in a deal valued at over Rs 50 crore, in February 2022.
This funding round has come at a time when edtech is undergoing its worst crisis. The edtech sector is currently facing a significant crisis with Edtech giants like Byjus, Unacademy, and Vedantu having laid off a significant chunk of their employees this year.
However, some startups have managed to raise considerable funding in this edtech winter with the likes of UpGrad which raised $210 million in August 2022, and Uolo which managed to raise $22.5 million in December 2022.