Sunday, July 14, 2024

Collegedekho Raises $9 Million in Funding from Existing Investors

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Collegedekho, a startup based in Gurugram offering higher education services, has reportedly raised $9 million in an extended Series B funding round led by its existing investors. This funding was facilitated through a special purpose vehicle (SPV), according to a report by Inc42.

Backed by Established Investors

The startup had previously secured $9 million from Janeville Limited in December 2022, bringing its total funding to over $90 million. Earlier, in December 2021, Collegedekho raised $35 million from investors such as Winter Capital, ETS Strategic Capital (the private equity arm of ETS), Calega, and Man Capital.

Founders and Services Offered

Founded in 2015 by Ruchir Arora, Saurabh Jain, Rohit Saha, and Rajiv Singh, Collegedekho provides comprehensive services in the higher education sector. These include test preparation, college discovery, selection guidance, and enrollment. The startup has grown through acquisitions, including ImaginXP, PrepBytes, GetMyUni, and Scholarship Facilitation Services.

Market Reach and Impact

Collegedekho claims to have counseled over 7 million students and collaborated with nearly 1,500 colleges. Its platforms have attracted over 160 million visitors seeking higher education opportunities.

Financial Performance

In the financial year 2023-24 (FY24), Collegedekho reported a revenue of Rs 239 crore. However, in FY23, the startup recorded a standalone loss of Rs 120 crore despite generating Rs 141 crore in revenue.

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