🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

CollegeDekho raises Rs 30 Cr from Lighthouse Canton

EntrackrEntrackr · 3m ago
CollegeDekho raises Rs 30 Cr from Lighthouse Canton
Medial

CollegeDekho, an online platform that helps students choose the right college, has raised Rs 30 crore (around $3.5 million) from Lighthouse Canton. Earlier in December 2021, CollegeDekho closed a $35 million Series B round led by Winter Capital, ETS Strategic Capital, Calega, and Man Capital. With the latest fundraise, the company will enhance its technological infrastructure, expand its reach, and ensure seamless operations during the upcoming admission season. Founded by Ruchir Arora, CollegeDekho has helped over two lakh students gain admission into Indian colleges over the last seven years. It also partners with universities to offer skill-based degree programs. To strengthen its leadership, the company recently hired two experienced professionals. Arshad Mumtaz joined as chief operating officer of the retail business, bringing nearly 30 years of experience. Deep Prakash joined as Head of Sales—retail Business and GetMyUni, with over 20 years of expertise in sales and growth. As per TheKredible, CollegeDekho’s revenue from operations increased to Rs 216 crore in FY24 from Rs 163 crore in FY23. Its losses remained flat at Rs 129 crore in the last fiscal year.

1

Related News

CollegeDekho secures Rs 40 Cr debt funding from Recur Club

EntrackrEntrackr · 2m ago
CollegeDekho secures Rs 40 Cr debt funding from Recur Club
Medial

CollegeDekho secures Rs 40 Cr debt funding from Recur Club CollegeDekho, an online platform that helps students choose the right college, has secured a structured debt funding of Rs 40 crore from debt marketplace Recur Club. Early in this month, the company had raised Rs 30 crore (around $3.5 million) from Lighthouse Canton. In December 2021, it also closed a $35 million Series B round led by Winter Capital, ETS Strategic Capital, Calega, and Man Capital. The proceeds will be allocated towards driving growth, enhancing technological advancements, and ensuring operations as the company prepares for the upcoming admission season, CollegeDekho said in a press release. Co-founded in 2015 by Ruchir Arora, Rohit Saha, and Saurabh Jain, CollegeDekho offers an online platform for college discovery, enrollment, and learning. The company provides students with information about colleges, courses, and careers, and helps them find suitable programs. The platform also offers B2B solutions to colleges, including digital marketing and student recruitment services. It helps universities and colleges to offer future-skill-orientated degrees, thereby enhancing the student’s overall learning experience and equipping them with the necessary skills to thrive in the job market. “At Recur Club, we recognise the crucial role of platforms like CollegeDekho, which is dedicated to enhancing higher education guidance in India. Supporting CollegeDekho highlights our commitment to promoting growth strategies that benefit educational institutions,” said Eklavya Gupta, co-founder & CEO of Recur Club. As per market research, India's higher education sector is projected to triple from $55 billion in 2023 to $180 billion by 2035. Over the years, CollegeDekho claims to have offered data on over 35,000 colleges and various courses. In the past year alone, it recorded more than 225 million website sessions and provided free guidance to nearly 4 million students, helping 60% of India’s private college admits. It has facilitated over 200,000 college admissions in the last seven years, contributing upwards of Rs 5,000 crore in fee income to its partner higher education institutions. In its latest financial results, CollegeDekho saw a 32.2% increase in revenue to Rs 215.6 crore in FY24 from Rs 163 crore in FY23.

Udaan raises Rs 300 Cr debt from Lighthouse Canton and others

EntrackrEntrackr · 8m ago
Udaan raises Rs 300 Cr debt from Lighthouse Canton and others
Medial

B2B e-commerce platform Udaan has raised nearly Rs 300 crore (over $35 million) in debt funding from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. This is the first debt round for the Bengaluru-based company in the past year. The new funds are intended to strengthen Udaan’s balance sheet and support its mission of empowering small businesses across India, the company said in a press release. In December 2023, the firm raised a $340 million Series E round led by M&G Plc, with participation from existing equity investors Lightspeed Venture Partners and DST Global. Although this round provided a financial boost to Udaan, its valuation dropped by 59.3%, settling at $1.3 billion, down from a peak valuation of $3.2 billion. According to Udaan, the company is on track to achieve profitability, reporting a 60% increase in revenue and more than a 50% rise in daily transacting buyers in 2024. Udaan also claimed a 30% reduction in absolute EBITDA burn in the current calendar year. The eight-year-old company operates a marketplace across several categories, including lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, pharma, toys, and general merchandise. It claims to have a network of over 3 million retailers across 900 cities. Udaan has been actively cutting costs over the past year, as evidenced by layoffs. In December 2023, the company let go of more than 100 employees. While Udaan has yet to disclose its FY24 numbers, its gross revenue (GMV) dropped by 43.1% to Rs 5,629 crore in FY23, down from Rs 9,900 crore in FY22. However, its losses also narrowed by 33.7%, from Rs 3,132 crore in FY22 to Rs 2,076 crore in FY23.

CollegeDekho’s revenue shoots up 32% to Rs 216 Cr in FY24

EntrackrEntrackr · 5m ago
CollegeDekho’s revenue shoots up 32% to Rs 216 Cr in FY24
Medial

CollegeDekho reported a 32% year-on-year revenue growth for the fiscal year ending March 2024. However, despite this increase, the company posted a net loss of Rs 129 crore, remaining unchanged from FY23. CollegeDekho’s revenue from operations increased to Rs 216 crore in FY24 from Rs 163 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies (RoC) show. Founded in 2015, CollegeDekho is a marketplace for college admissions and higher education services. Its offerings include student counseling and lead generation, university partnerships, education loans, test preparation, and study abroad services. The company has not disclosed the full revenue breakdown. It earns primarily from the commission on admissions, marketing services, promotion and advertising, online coaching, and other tech solutions. The firm also added Rs 6 crore in interest and investment gains, which brought its overall revenue to Rs 222 crore in FY24. CollegeDekho allocated 45% of its total expenses to employee benefits in FY24, amounting to Rs 156 crore, a 5% decline from the previous year. This includes Rs 8 crore in ESOP costs, which are non-cash in nature. The second-largest expense for the company was advertising and promotion, which rose by 35% to Rs 97 crore in FY24, reflecting increased efforts to enhance brand visibility and customer acquisition. CollegeDekho's outsourcing and subcontracting costs grew by 33% in FY23. In FY24, legal, rent, provision for doubtful debts, travel, and other expenses contributed to a 16% rise in the company's total expenditure, which increased to Rs 349 crore from Rs 302 crore in FY23. In the end, the company’s losses remained flat at Rs 129 crore in FY24. Its ROCE and EBITDA margin stood at -78% and -44.6%, respectively. On a unit level, CollegeDekho spent Rs 1.62 to earn a rupee of operating revenue. Its current assets were recorded at Rs 211 crore with cash and bank balances of Rs 3 crore at the end of FY24. CollegeDekho has secured over $60 million in total funding, including a $9 million investment last year from its existing backers. According to the startup data intelligence platform TheKredible, CarDekho is the largest external stakeholder followed by Winter Capital.

Download the medial app to read full posts, comements and news.