Ed-tech startup CollegeDekho, which helps students connect with and select colleges, has secured $2 million from London-based Man Capital in a “Pre-Series A” round. The funds will be used to strengthen its tech platform and increase hiring, marketing activities and bring more colleges onboard.
CollegeDekho raised seed capital of $1 million about four months back in December 2015 from Girnar Soft, a Jaipur-based company which owns online automobile marketplace Cardekho and many other similar sounding platforms.
The platform claims to have over 22000 colleges and claims to be offers a unique step by step process that helps students to select appropriate college according to their interests and other requirements. It also provides information on various examinations and determines cut-offs for admission into various courses.
According to CEO Ruchir Arora, CollegeDekho was launched to fundamentally change and improve the journey of college selection process for students.
Commenting on the latest funding round, he said,
All this has been enabled through our dedicated focus on building a robust service network as well as better unit economics and revenue streams. The latest funding received from Man Capital is a stamp of approval to our approach.
It will also be the first investment of Man Capital in an Indian startup. Man Capital was founded in London in 2010 by Mohamed Mansour as a private equity fund and asset management arm of Mansour Group.
It has so far invested in diverse categories such as logistics, oil and gas, real estate, education, telecommunications, and consumer goods.
The company believes India to be one of the important start-up hubs of the world and was looking for an Indian venture that was a pioneer in its segment and also had the potential to become a global leader in future.
On his decision to invest in CollegeDekho, CEO of Man CapitalLoutfy Mansour said,
We believe that CollegeDekho.com, with its tech-oriented approach and disruptive impact on the country’s higher education landscape, ticked all the right boxes.