Bengaluru-based ForeignAdmits, a startup that offers a personalized study abroad guidance to aspirants, today said it has raised Rs 3.5 crore in a seed funding round led by Unicorn India Ventures.
The round also saw participation from angels like RiDiK Technology from Singapore, Manoranjan Mohapatra, Kumar Siddhartha (CEO, Greytrix), Chandra Shekhar Sharma (HoD, Physics, Reliable Institute, Kota, A division of Allen), Sudhanshu Mishra, Sagar Gandhi, Mayank Sharma(India Head of Prodigy Finance).
Founded in 2020 by IIT alumnus Nikhil Jain and Ashwini Jain, ForeignAdmits operates a data-driven platform that provides authentic study abroad guidance to aspirants using a data-backed counseling process and peer-to-peer mentorship by international graduates & alumni networks.
Some of the well-known alumni networks that ForeignAdmits work with are Columbia, Duke, CMU, Monash, University of Toronto, and ASU. The startup in a statement said that it focuses on the overall aspiration of the GenNext, taking them from mere aspirants to worthy candidates.
“Higher education in India is more focused now and producing disciplinary experts and has grown in a remarkable way. The Gross Enrolment Ratio in higher education has been significantly improving every year," Anil Joshi, Managing Partner, Unicorn India Ventures, said. "With this thought, we have led the round in ForeignAdmits as the education platform is process focused and we have first-hand seen the impact it has made since its inception," he adds.
ForeignAdmits, which was incubated at FIIRE, Goa, aims to make global education a reality for every deserving student. The focus has always been process-focused where unwanted and nonserious student acquisition is not encouraged to maintain a quality experience for both guide and the students, the startup said.
It has a "Mentor-Mentee Connect"- A personalized mentorship product for aspirants from quality & verified mentors of top universities of their choice. The aim is to make processes transparent, organized, and data-backed. This ensures that students not only land up with multiple admits but also land in their college with better awareness of their chosen career paths and colleges.
“We want to transform and disrupt the $90 billion global higher education industry by creating the largest online student community to make study abroad accessible and affordable to all high potential students. Studying abroad should not be just an elitist's dream and should be made accessible to all aspiring individuals who aim to achieve their dream of going to college," Nikhil Jain, Co-founder & CEO, Foreign Admits, said.
"Our mission is to enable 100 million students in India with quality mentorship to help choose a better career by providing a cutting edge and comprehensive guidance platform for students aiming to pursue higher education in the best universities of the world," Nikhil adds.
ForeignAdmits claims to have witnessed 10x growth in the last 12 months. Currently, it has close to one lakh MAU and 1.5 lakh user traffic per month, registering an organic growth of 650% in user base and traffic in 2021.
In the next 12 months, The platform aims to guide over 25,000 students in their foreign education cycle through a tech-enabled counseling process. It also plans to empower over 500 counselors to help students with proper guidance through its admission counseling products.