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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.

NBFC Varthana secures $15 Mn from BlueOrchard Microfinance Fund

EntrackrEntrackr · 7m ago
NBFC Varthana secures $15 Mn from BlueOrchard Microfinance Fund
Medial

Non-Banking Finance Company (NBFC) Varthana has secured $15 million (about Rs 120 crore) in funding from BlueOrchard Microfinance Fund, managed by BlueOrchard. The proceeds will be utilized to expand its lending portfolio, providing private schools and vocational students in tier II and tier III cities with essential financial support for infrastructure enhancement and skill-based learning initiatives, Varthana said in a press release. Co-founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana provides loans to affordable private schools and students pursuing domestic higher education in India. The platform aims to transform affordable education in India by catering to the needs of affordable private schools through financial assistance and academic support. It also aims to serve domestic students attending college, technical training/short-term courses, and postgraduate studies by providing them with loans to continue education. According to Varthana, it intends to bridge the education gap in India by empowering affordable education institutions and improving learning outcomes for millions of students. Through its innovative solutions, it claims to have enabled thousands of private schools to upgrade their facilities and enhance teaching standards, driving measurable improvements in student success. Varthana states that it has played a crucial role by financing more than 11,000 affordable private schools and facilitating over 16,500 loans for school expansion and renovation. With a presence in 16 states/union territories and 40 branches, it also extends its services to Tier III and Tier IV cities. The company aims to make education accessible to over 10 million students by 2025.

Upskilling platform Weskill raises pre-seed round

EntrackrEntrackr · 3m ago
Upskilling platform Weskill raises pre-seed round
Medial

Upskilling Platform Weskill has raised an undisclosed amount in a pre-seed funding round at a valuation of Rs 40 crore from HNIs and Strategic Investors. The fresh funds will be channeled towards accelerating its expansion and enhancing cutting-edge AI-powered learning ecosystems, Weskill said in a press release. Founded in November 2023 by Prashant Prakash Dubey, Weskill aims to address the widening skill gap between traditional college education and the ever-evolving demands of the industry. The platform aspires to weed out the hassles of lack of alignment between academic curriculum and real-world job requirements by leveraging artificial intelligence to offer career counseling and personalized training modules, making upskilling more effective, accessible, and industry-relevant. To ensure high-quality experiential learning, Weskill states that it has established partnerships with top-tier universities, including EICT, IIT Guwahati, and several multinational corporations (MNCs). These collaborations enable the platform to deliver industry-relevant training to undergraduate students and early-stage professionals, equipping them with the skills required to excel in corporate environments. In addition to its upskilling programs, Weskill has developed an AI-based career counseling and mock interview platform and claims that it has already empowered over 170,000 students in enhancing their career trajectories. Over the next two years, Weskill intends to expand its impact by upskilling and guiding over 600,000 students across India with a strong focus on AI integration, innovative learning methodologies, and strategic industry collaborations. It competes with major players in the upskilling space such as Coursera, Scaler, Simplilearn, amongst others.

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