ForeignAdmits, an Overseas study assistance startup has raised Rs 3.26 crore from early-stage investor Unicorn India Ventures (UIV).
The funding round also saw participation from SEA Fund, Beerud Sheth (Founder of Gupshup), Zishaan Hayath, (Founder of Toppr) and Keshab Panda (former chief executive officer of L&T Infotech).
The startup plans to use the funds to enhance its technology platform to further its ongoing business development efforts as well as provide better experiences to students and partners.
The Bengaluru-based ForeignAdmits was founded in 2020 by Ashwini Jain and Nikhil Jain, It is an end-to-end study abroad platform for students and agents that provides peer-to-peer mentoring by a network of international graduates and alumni.
The edtech firm helps students apply for college applications digitally and offers post visa and pre-departure services like education loans, foreign exchange, health insurance, credit cards and bank accounts.
“Students especially in Tier 2 and 3 towns don’t enjoy exposure and guidance when compared to their metro counterparts. This is true for countries across the World”, said, Ashwini Jain, co-founder of ForeignAdmits.
ForeignAdmits works with well-known networks like Columbia, Duke, CMU, Monash, University of Toronto, and ASU.
It has also launched the Integrated Study Abroad Guidance product which provides financial and career counselling, admission and post-admission support.
The company claims that there has been a 10× increase in various business development parameters in the last 12 months.
The edtech platform currently sees 2 lakh monthly traffic organically, growing at a rate of 25% month-on-month.
“As the world opens up and students look for higher education opportunities in top global universities, we want to back the company as it goes full steam ahead with foreign admission season”,said, Anil Joshi, managing partner at Unicorn India Ventures.
The startup currently has over 250 agent partner network and currently has more than 35 university partnerships with a team size of close to 100 in India and ten other countries. In October 2021, ForeignAdmits has raised Rs 3.5 crore in a seed round from Unicorn India Ventures.
“ForeignAdmits” aims at addressing one of the biggest problems of personalized mentoring for students aiming to pursue higher education and eventually become an expert in their desired discipline of study. Foreignadmits is a Technology empowered Mentorship based platform with an aim of Generic but Personalised guidance by target universities & field-specific mentors.
Powered by AI & Proprietary processes of Profile Evaluation, Analysis and Application Management we make the whole application process competent, time-saving, efficient, transparent, and better in quality. It ensures unbiased suggestions and enough information/ data for judicious decisions by applicants. Step-wise end-to-end guidance from planning to applications with guidance helps with a clear process for applicants. Applicants will be assigned, personal mentors. These mentors are graduates & professionals from some of the best universities & top companies in the world. Mission: They aim to be the Google of Higher Education.