ETtechBengaluru: Overseas study assistance startup ForeignAdmits has raised Rs 3.26 crore from Mumbai-based early-stage fund Unicorn India Ventures (UIV) and other investors like Bengaluru-based SEA Fund. Beerud Sheth, founder of Gupshup, Zishaan Hayath, founder of Toppr, and Keshab Panda, former chief executive officer of L&T Infotech also participated in the round.
ForeignAdmits plans to utilise the fresh funding for enhancing its tech platform to provide a better experience to students and partners along with furthering its ongoing business development efforts.
The startup helps students in applying for college applications digitally and undertakes post visa and pre-departure services such as education loans, forex, health insurance, credit cards, and bank accounts. "Students especially in Tier 2 and 3 towns don't enjoy exposure and guidance when compared to their metro counterparts. This is true for countries across the World,” said Jain, cofounder of ForeignAdmits.
Some of the well-known networks that ForeignAdmits works with are Columbia, Duke, CMU, Monash, University of Toronto, and ASU. The Company has also launched the Integrated Study Abroad Guidance Product which offers financial and career counseling, admission, and post-admission support.
This is the second investment by UIV in Foreign Admits. The company raised a seed round of Rs 3.5 crore from Unicorn India recently. The total funding raised so far is around $1 million.
As per ForeignAdmits' prepared statement, the company has grown 10X in the last 12 months across various business growth parameters. Currently, the platform sees 2 lakh monthly traffic organically, which is growing at 25% month-on-month.
“As the world opens up and students look for higher education opportunities in top global universities, we want to back the company as it goes full steam ahead with foreign admission season,” said Anil Joshi, managing partner, Unicorn India Ventures. The platform presently has over 250 agent partners network. ForeignAdmits with a team size of close to 100 is currently serving students in India and ten other countries and has over 35 university partnerships.
ForeignAdmits plans to utilise the fresh funding for enhancing its tech platform to provide a better experience to students and partners along with furthering its ongoing business development efforts.
Founded in 2020 by IIT Bombay graduate Ashwini Jain and IIT BHU alumnus Nikhil Jain, ForeignAdmits is an end-to-end study abroad platform for students and agents that gives peer-to-peer mentoring by international graduates and alumni network.
The startup helps students in applying for college applications digitally and undertakes post visa and pre-departure services such as education loans, forex, health insurance, credit cards, and bank accounts. "Students especially in Tier 2 and 3 towns don't enjoy exposure and guidance when compared to their metro counterparts. This is true for countries across the World,” said Jain, cofounder of ForeignAdmits.
Some of the well-known networks that ForeignAdmits works with are Columbia, Duke, CMU, Monash, University of Toronto, and ASU. The Company has also launched the Integrated Study Abroad Guidance Product which offers financial and career counseling, admission, and post-admission support.
This is the second investment by UIV in Foreign Admits. The company raised a seed round of Rs 3.5 crore from Unicorn India recently. The total funding raised so far is around $1 million.
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As per ForeignAdmits' prepared statement, the company has grown 10X in the last 12 months across various business growth parameters. Currently, the platform sees 2 lakh monthly traffic organically, which is growing at 25% month-on-month.
“As the world opens up and students look for higher education opportunities in top global universities, we want to back the company as it goes full steam ahead with foreign admission season,” said Anil Joshi, managing partner, Unicorn India Ventures. The platform presently has over 250 agent partners network. ForeignAdmits with a team size of close to 100 is currently serving students in India and ten other countries and has over 35 university partnerships.
( Originally published on May 10, 2022 )
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