ForeignAdmits, a Bengaluru-based edtech startup, said it has raised Rs 3.5 crore in a seed funding round led by Unicorn India Ventures.
The round also saw participation from Singapore based RiDiK Technology, Manoranjan Mohapatra, Kumar Siddhartha, CEO of Greytrix, Chandra Shekhar Sharma, HoD, Physics, Reliable Institute, Kota, Sudhanshu Mishra, Sagar Gandhi, Mayank Sharma, India Head of Prodigy Finance
The company said it will the funds will be primarily used for product development and for team expansion.
Founded by Nikhil Jain and Ashwini Jain, ForeignAdmits provides study abroad guidance to aspirants, using a data-backed counseling process and guided peer-to-peer mentorship by foreign alumni.
The company said it works with Columbia, Duke, CMU, Monash, University of Toronto, and ASU. It focuses on the overall aspiration of the GenNext, taking them from mere aspirants to worthy candidates
ForeignAdmits said it has grown 10 times in the last year. it has close to one lakh monthly active users and 1.5 lakh user traffic per month, registering an organic growth of 650% in user base and traffic in 2021. ForeignAdmits aims to guide over 25,000 students in their foreign education cycle through a tech-enabled counseling process.
It also plans to empower over 500 counselors to help students with proper guidance through our admission counseling products
“Higher education in India is more focused now and producing disciplinary experts and has grown in a remarkable way. 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.” Anil Joshi, Managing Partner, Unicorn India Ventures said in a statement.