Edtech Startup AdmitKard Raises $3.3 Mn in a fresh round

• ByStartupStory     |    April 5, 2022

AdmitKard, an edtech platform that makes it easier to get into higher education in other countries, has raised $3.3 million in a new round of funding. This is the Noida-based firm’s second round after a nine-month hiatus.

According to regulatory filings, Admitkard passed a special resolution in their extraordinary general meeting for the issuing of 42337, CCPS at an issue price of Rs 5905 per share for a consideration of Rs 25 crore.

For 20.68 percent of the company’s share capital, new and current investors have put in Rs 25 crore. According to Fintrackr, the promoters’ stake fell to 50.99 percent after this round of allotment.

AdmitKard, which has been around for five years, assists students in applying to over 1,000 institutions and colleges in the United States, the United Kingdom, Canada, Australia, and New Zealand. Piyush Bhartiya and Rachit Agrawal founded the company in 2016, which claims to have serviced students from 26 Indian states as well as Sri Lanka, Nepal, Afghanistan, Nigeria, and Vietnam.

It secured Rs 10 crore in its pre-Series A financing in July last year, led by the founders of edtech platforms such as Vedantu, upGrad, Unacademy, DoubtNut, and Avanti. Pankaj Chaddah, Suhail Sameer, Dhruv Dhanraj Bahl, and Vijay Arisetty were among the individual backers that took part.

SchoolApply, CollegeVine, CollegeDekho, CollegeDunia, Shiksha Abroad, and HotCourses Abroad are among the competitors of AdmitKard.

Follow Startup Story