Data-driven study abroad assistance platform ForeignAdmits has raised Rs 3.26 crore from Unicorn India Ventures and other marquee investors like SEA Fund, Beerud Sheth (Founder CEO, Gupshup, Zishaan Hayath (Founder CEO, Toppr) and Keshab Panda (Former CEO, L&T Infotech) also participated in the round.
This is the second investment by UIV in Foreign Admits. The Company raised a seed round from Unicorn India recently, taking the total funding raised to over $1 million. The Funds raised in the current round will be used for enhancing the tech platform to provide better experience to the students and partners and ongoing business development efforts.
Anil Joshi, Managing Partner, Unicorn India Ventures, says, “ForeignAdmits has demonstrated a strong growth track record since we last invested in the company. 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.
ForeignAdmits has grown 10X in the last 12 months across various business growth parameters. Currently, the platform sees 2 lakh monthly traffic organically, which is growing at 25% m-o-m. The Company has over 250 agent’s partners network in place to meet the growing demand of data driven and peer to peer admission counselling in India. ForeignAdmits with a team size of close to 100 is currently serving students in India and 10 other countries and has over 35 universities partnerships.
Ashwini Jain, Co-founder CEO, ForeignAdmits, says, “We want to become a global leader in the overseas education space and help anyone, from any country, access the World’s best education to achieve their full potential using our technology. 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. With the use of technology, we aim to transform the overseas study industry with better, efficient and trusted technology products. This will also enable counsellors and agents to help students with a better admission and post admission experience.”
ForeignAdmits intends to help over 1,00,000 students over the next 12 months. The Company has also launched India’s first Integrated Study Abroad Guidance Product which offers financial & career counselling, admission and post admission support in one place.
Started in 2020 by IIT-Bombay alumni Ashwini Jain and IIT-BHU alumni Nikhil Jain, FA is an end-to-end study abroad platform for students and agents that gives peer to peer mentoring by international graduates and alumni network, provides data driven personalised guidance, helps managing college application digitally, brings all the post visa and pre departure services such as education loans, FOREX, GIC, Blocked Account,accommodation, health insurance, credit cards and bank accounts on a single platform.
About Unicorn India Ventures
Unicorn India Ventures is a Mumbai-based early stage fund house started in 2015 by Anil Joshi and Bhaskar Majumdar. The Fund has also launched a UK India cross border fund for funding UK startups looking to enter India. From its first Fund, UIV has invested in 18 companies like Inc42, Sequretek, Pharmarack, Genrobotics, NeuroEquilibrium, SmartCoin, Open Bank, Open app to name a few. Unicorn India has also announced Fund II, which is a Rs 300 crore fund launched in 2019 which has invested in 20 companies so far.
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