PE Fund Investments
Edtech co AdmitKard raises Rs.50-Cr led by GSV Ventures
Noida-based edtech company AdmitKard has attracted INR 50 crore in a Series A round led by GSV Ventures and other investors. This is the first external investment for the company in 2023. The proceeds will be deployed for hiring, investment in new technology and product. The firm will also use the funds to expand to new geographies. Founded in 2019 by Piyush Bhartiya and Rachit Agrawal, AdmitKard helps students seeking admission to universities and colleges around the world. AdmitKard provides help with test prep, loan, and accommodation. The company leverages technology and data science to provide personalised guidance to students. AdmitKard claims to have helped students with access to over 3,000 universities in over 20 countries. The four-year-old company's operating scale went up by 5X to INR 3.47 crore in the fiscal year ending March 2022. Its losses grew 2.89X and stood at INR 7.9 crore.
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