Edtech

Edtech Startup GradRight Secures Rs 50 Crore in Series A Funding from IvyCap Ventures

• ByStartupStory     |    August 24, 2023

Edtech startup GradRight has successfully raised Rs 50 crore in a Series A funding round led by Indian venture capital firm IvyCap Ventures. GradRight offers a technology-driven platform that assists students in choosing and financing their higher education endeavors, with a focus on making international education more accessible and affordable for students from lower and middle-income backgrounds.

Through the application of Artificial Intelligence, GradRight aids students in making informed decisions about their college choices and provides options for financing their education, including facilitating education loans. This streamlined approach eliminates intermediaries and simplifies the process for students aspiring to study either in India or abroad.

The newly secured funds will be directed towards expanding the platform’s offerings and enhancing accessibility to global higher education. Tej Kapoor, Managing Partner of IvyCap Ventures, will be joining GradRight’s board as a result of the investment.

Aman Singh, Co-Founder and CEO of GradRight, along with Sasidhar Sista, Co-Founder and COO, highlighted the importance of this initiative: “Globally, millions of capable students struggle to select and finance their higher education. As a tech-first company with a platform-based approach to solving these problems, we are committed to ensuring that every student has the resources they need to obtain the education they deserve.”

Over the past two years, GradRight’s platform has efficiently processed loan requests totaling over $1.75 billion (approximately Rs 14,300 crore), benefiting more than 55,000 students. Collaborating with 15 lenders and partnering with over 50 international academic institutions across the US, Canada, and Europe, GradRight provides access to a diverse array of 13,100 programs offered by 1,000 universities.

Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, expressed confidence in GradRight’s potential to reshape the global higher education admissions and financing landscape: “GradRight has the potential to transform the global higher education admissions and financing market. Their technology-driven solution is well-positioned for profitable scaling; it is adaptable across markets and can emerge as a leader in the sector.”

With the infusion of funds and expertise from IvyCap Ventures, GradRight is poised to further empower students in their pursuit of quality education, while also revolutionizing the educational financing ecosystem.

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