CollegeDekho, a platform that provides services for college entrance and higher education, has raised $9 million, which is equivalent to Rs 73.3 crore, from Janeville Limited. This is the first funding round that the company with headquarters in Gurugram has received so far in 2018.
According to the regulatory filing that CollegeDekho submitted with the Registrar of Companies (RoC), the board of directors at CollegeDekho has approved a special resolution to allot 8,842 Series B1 preference shares to Janeville Limited at an issue price of Rs 82937.98 each in order to raise Rs 73.3 crore, which is equivalent to $9 million.
It would appear that the Series B round will continue with this fresh investment.
In December 2017, the company finished a Series B funding round with a total of $35 million in funding. The round was headed by Winter Capital, ETS Strategic Capital, Calega, and Man Capital. Up to this point, the company that is run by Ruchir Arora has successfully raised a total of $55 million.
Fintrackr’s calculations suggest that the company is worth approximately Rs 1,120 crore, which is equivalent to approximately $138 million (post allotment).
CollegeDekho, a company that has been in business since 2015, uses its own patented technologies and a conversation bot to connect students with colleges. It provides a variety of services, including profile creation, test preparation, support with applications, assistance with choosing an institution, and visa assistance, among others.
The company also purchased three more startups not long after the most recent round of fundraising: PrepBytes, Getmyuni, and IELTSMaterial. In February of this year, Entrackr was the first to break the exclusive story about GetMyUni being acquired.
CollegeDekho’s operating income increased by 27.6% to Rs 48 crore in FY21, despite the fact that the company has not yet presented its annual financial results for FY22. During the fiscal year that ended in March 2021, its losses ballooned to a total of Rs 21.12 crore, an increase of 22.3%. The company’s primary competitor is Leverage Edu, which recently completed a Series B funding round at a valuation of $120 million and raised $22 million (Rs 167 crore).
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