Each yr, thousands and thousands of students in India rush to get an admission in universities abroad. Often they don’t know which program they need to concentrate on, or the faculty that’s proper for his or her skillset and ambition.
Scores of legacy and newfound companies are trying to supply counselling to these students. But regardless of India contributing extra worldwide students than every other nation, most companies aiming to handle this problem will not be targeted on India, and wrestle to perceive some distinctive issues students in the world’s second most populous nation face.
An Indian startup that’s bridging this hole on Thursday mentioned it has raised $6.5 million in a brand new financing spherical because it appears to be like to scale its platform in the world’s second largest web market.
Leverage Edu mentioned Tomorrow Capital led the Delhi-headquartered startup’s Series A financing spherical. Existing buyers Blume Ventures and DSG Consumer Partners additionally participated in the spherical.
Akshay Chaturvedi, founder and chief government of Leverage Edu, instructed TechCrunch in an interview that he believes that finally the agency that’s going to serve the students greatest and emerge most profitable would be the one that’s bodily nearer to them, and never to the schools.
Chaturvedi, 30, started exploring this concept for this startup in 2015 and spent just a little greater than a yr experimenting with completely different fashions. One of the earliest iterations of Leverage Edu provided mentorship to students and rewarded counselors with factors.
Today, the startup presents a broad vary of companies in addition to providing customized mentorship. Through its workshops, it helps students discover the correct faculty, guides them with complicated functions and grade conversions, in addition to assists with training mortgage, VISA, and lodging. “It’s one digital dashboard. You get everything from flight tickets to local phone numbers, to education loan in one place,” he mentioned.
“We believe it is inevitable that the next stellar brand in the global cross-border education space will be a home-grown one. We have a great belief in Akshay as a founder – he has a fantastic roadmap for scaling the business and the passion to build a truly global Indian edtech brand – and are excited about working with the Leverage Edu team on this journey,” mentioned Rohini Prakash, chief government of Tomorrow Capital, in a press release.
Leverage Edu helps students land admission in essentially the most prestigious colleges, but additionally works with people who didn’t rating essentially the most marks.
“Students going to the top colleges is just 10% of the potential audience,” defined Chaturvedi, who spent his teen years attending talks from startup founders and likewise made cash by bringing extra folks to these talks. “There are many universities that don’t have the best branding. To connect them with students, we have our SaaS offering Univalley.com,” he mentioned.
The startup plans to deploy the contemporary capital to help students discover colleges in extra geographies together with the UK and Australia, he mentioned.
“We want to focus on a few things and do them really really well. There is also this myth around foreign education being expensive that we’ve been busting for last four years. 18 months from now, we want to be among the top study abroad companies in India, both by number of students and a roof-hitting NPS – because a happy student is why we are all really motivated everyday to do this!”, he added.