Noida based AdmitKard raises Rs 50 cr in series A funding
- ByStartupStory | February 21, 2023
College admissions startup AdmitKard has raised Rs 50 crore ($6 million) in Series A funding, led by global edtech investor firm GSV Ventures, a top executive said.
Marquee angels including Cred’s Kunal Shah, direct-to-consumer unicorn Mamaearth’s Varun Alagh also participated in the round, along with a few existing angel investors.
Noida-based AdmitKard caters to the ‘study abroad’ market, helping students to apply for higher education in universities and colleges in US, UK, Canada, Australia, and New Zealand.
“We are using the proceeds in expanding our product portfolio apart from admissions,” said Piyush Bhartiya, co-founder. The startup wants “go broader in terms of helping the students in financing education, scholarships, enabling them in getting accommodation, and various other challenges that they face while going through admissions.”
AdmitKard, which is operated by Pineyards Solutions Pvt. Ltd, was co-founded by Bhartiya and Rachit Agrawal in 2016. It offers a tech-based ‘course-to-career’ solution to simplify university admissions.
Further, it is also looking to expand the way it acquires students. Presently, it has students from over 70 cities in India that apply for admissions through AdmitKard.
“We are looking at approaching the market in different ways. Students from more than 250 cities are going abroad from India,” he said.
“We are looking at new go to market strategies, which we will experiment with and look at having deeper reach in these cities.”
The startup runs on a freemium model, with its primary services being made available to all students. Educational institutions also pay the company a royalty fee for promotion and marketing, he added.
AdmitKard currently has about 200 employees. “We’ll be looking at doubling the team size over the next 12 to 18 months,” he added.
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