Man Capital and GirnarSoft have made an investment to the tune of $2 million in higher education-focused technology startup CollegeDekho. GirnarSoft is also a parent company of the Gurugram-based startup.
The startup will use the fresh proceeds towards technology, expanding collaboration with international colleges and to increase marketing activities, including more offline campaigns, reports ET.
Queries sent to CollegeDekho by Entrackr did not elicit a response till the time of publication of this report.
CollegeDekho’s platform allows students compare colleges, select courses, determine cut-offs for their desired courses and access other career-related content. It helps students make decisions about their career through counseling.
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With a database of 36,000 colleges, CollegeDekho has claimed to guide over one lakh students nationwide. It has on-ground cafes in Patna, Ranchi, Lucknow, Guwahati, and Srinagar in the past 24 months.
This is the third round of funding for the edtech startup. In April 2016, CollegeDekho had raised $2 million in pre-Series A funding from London-based Man Capital. Prior to that, it raised $1 million from GirnarSoft in December 2015.
London-based Man Capital is an investment arm of the Mansour Group. The fund infusion in CollegeDekho marks the firm’s first foray into the Indian startup ecosystem.
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Besides CollegeDekho, Girnar Software is the parent company of portals such as CarBay.com, CarDekho.com, Gaadi.com, Zigwheels.com, BikeDekho.com, PriceDekho.com. Furthermore, it has also introduced specialised portals like TyreDekho.com and TrucksDekho.com.
According to a joint report by Google and consultancy firm KPMG, India’s online education industry is expected to grow almost eight times to hit $1.96 billion by 2021, with the number of paid users rising six-fold from 1.6 million now to 9.6 million.
