Edtech company AdmitKard has secured Rs 50 crore in a Series A round led by GSV Ventures and other investors. This is the maiden investment for the company in 2023.
The proceeds will be deployed for hiring, investment in new technology and product along with expansion in new geographies, AdmitKard stated in a press statement.
Founded in 2019 by Piyush Bhartiya and Rachit Agrawal, AdmitKard helps students seeking admission to universities and colleges around the world. The company leverages advanced technology and data science to provide personalised guidance to students, helping them to find the best-fit university, courses, and country to achieve their career goals.
According to AdmitKard’s website, it provides test prep, loan, accommodation et al.
AdmitKard has built an intelligent match-making layer on top of millions of data points gathered over the years. It claims to have helped thousands of students with their admission journeys and provided access to over 3,000 universities in over 20 countries. The company competes with Blume Ventures-backed Leverage Edu and several others.
The four-year-old company’s operating scale surged 5X to Rs 3.47 crore in the fiscal year ending March 2022 whereas its losses grew 2.89X and stood at Rs 7.9 crore.
