Mumbai-based startup GradRight has raised INR 50 Cr in Series A funding from IvyCap Ventures.
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Mumbai-based startup GradRight has raised INR 50 Cr in Series A funding from IvyCap Ventures.
As part of the deal, Tej Kapoor, IvyCap Ventures’ managing partner, will join the GradRight’s board. The startup plans to deploy the incoming funding for expanding its business, it said in a prepared statement.
Founded in 2019 by Aman Singh and Sasidhar Sista, GradRight brings together prospective students, universities and lenders on a single platform.
The startup has developed an AI-based ecosystem of universities and banks, enabling students to make informed decisions on programmes, universities to identify suitable students and banks to finance them.
GradRight claims to have processed loan requests of more than $1.75 Bn (INR 14,300 Cr) and assisted more than 55,000 students via its platform.
“As a tech-first company with a platform-based approach to solving these problems, we are committed to ensuring that every student has the resources they need to obtain the education they deserve. We are delighted that IvyCap Ventures shares our vision and has chosen to support us in our mission and global ambition. Their belief in our unique business model further strengthens our commitment,” GradRight’s founders said in a joint statement.
GradRight also claims to have partnerships with 15 lenders and 50+ international academic institutions in the US, Canada and Europe, offering students a choice of 13,100 programmes across 1,000 universities.
The study abroad space has become a fertile ground for India’s startup ecosystem to experiment and bring tech-enabled products and services.
GradRight joins the likes of Leverage Edu (which recently secured $40 Mn), Leap (which secured $75 Mn last year) and UniScholars, along with the thousands of individual agents and small businesses in the space.
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