CollegeDekho, an edtech company, has raised $9 million from Janeville Limited
- ByStartupStory | December 21, 2022
CollegeDekho, a Gurugram-based college admissions and higher education services website, has raised Rs 73.3 crore (about $9 million) from Janeville Limited. This is the company’s first investment round of the year.
According to its regulatory filing with the Registrar of Companies, CollegeDekho’s board of directors authorized a special resolution to allot 8,843 Series B1 preference shares to Janeville Limited at an issue price of Rs 82,927.98 apiece in order to raise Rs 73.3 crore or almost $9 million (RoC).
CollegeDekho raised $35 million in its Series B financing last December. Winter Capital, ETS Strategic Capital—the private equity investment arm of ETS (developer of the TOEFL and GRE tests), Calega, and current investor Man Capital led the round.
The newest round appears to be a continuation of its Series B round. According to Tracxn, the edtech company had already raised $47 million. The Series B funds will also be utilized for acquisitions and consolidation, according to the company. CollegeDekho then acquired three startups: IELTSMaterial, Getmyuni, and PrepBytes.
CollegeDekho, founded in 2015 by Ruchir Arora, Rajiv Singh, Saurabh Jain, and Rohit Saha, aims to institutionalize student counseling in India. It uses its own technologies and AI-powered conversation bot to link prospective students with institutions. CollegeDekho is an education company that specializes in college entrance, university admission, student counseling, competitive exam preparation, and one-click education solutions.
According to Tracxn, during the financing winter, edtech had a 39% reduction in donations in 2022. Around 70% of the year’s edtech funding came from five $100 million+ rounds raised by BYJU’S, upGrad, LEAD, and Physics Wallah.
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