Indifi's Alok Mittal, others back edtech startup Leverage Edu

Delhi-based Leverage Edu, an online platform for higher education, has raised an undisclosed amount of financing from a clutch of investors including Indifi Technologies co-founder Alok Mittal, Innov8 founder Ritesh Malik, ET 40Under40 Deepak Jain and California State University Professor Jim Schmidtke.

The edtech startup founded in April, this year by Babajob's Akshay Chaturvedi and Rajiv Ganjoo will use the latest funds for product development and further building of the team, reported ET.

Leverage Edu offers college admissions and finance services to students, including help in creating profiles for universities, writing research papers and dedicated counseling through experts. To universities, Leverage offers UnivGateway, a Saas-based (software-as-a-service) tool to help them admit the right students.

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It matches students with over 2,500 colleges outside India through its panel of 100-plus experts. The portal uses machine learning to help students build academic profiles, including writing papers and filing for patents for the selection process.

The marketplace platform claims to have grown 7x in revenue over the last eight months and will look to raise Series-A funding next year.

Earlier this year in August, the startup raised seed funding from angel investors including Kashyap Deorah, founder of HyperTrack; VRL Logistics managing director Anand Sankeshwar; Sadashiva NT, former chief financial officer of Babajobs; and Arjun Mehta, former CFO at American Express India, among others.

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Last week, online learning platform Meritnation raised Rs 38 crore from Info Edge, an online classifieds portal, which runs internet properties such as Naukri, Shiksha, 99acres and Jeevansathi among others.

Prior to that Mumbai-based Toppr secured Rs 45 crore in its second round of Series-B funding, led by its existing investors SAIF Partners, Helion Ventures and FIL Capital Management.

Leverage Edu: Website