Data-driven study abroad assistance platform ForeignAdmits has raised Rs 3.26 crore ($251K) in funding led by Unicorn India Ventures, with participation from other marquee investors like SEA Fund, Beerud Sheth (Founder & CEO of Gupshup), Zishaan Hayath (Founder & CEO of Toppr), and Keshab Panda (Former & CEO of L&T Infotech).
Prior to this, The startup had raised Rs 3.4 crore in funding in October 2021 from Unicorn India Ventures. The latest raise brings its all-time raise to over $1 million, according to the statement.
Foreign Admits is an end-to-end study abroad platform for students and agents that gives peer to peer mentoring by international graduates and alumni networks, provides data-driven personalized guidance, helps manage college applications digitally and brings all the post visa and pre-departure services such as education loans, FOREX, GIC, Blocked Account, accommodation, health insurance, credit cards and bank accounts on a single platform.
The startup will use the raised funding to enhance its tech platform to provide a better experience to the students and partners and ongoing business development efforts.
Started in 2020 by IIT-Bombay alumni Ashwini Jain and IIT-BHU alumni Nikhil Jain, Since its inception, ForeignAdmits has grown 10X in the last 12 months across various business growth parameters. At present, the platform claims to have 200,000 monthly traffic organically, which is growing at 25% m-o-m.
“We want to become a global leader in the overseas education space and help anyone, from any country, access the World’s best education to achieve their full potential using our technology. Students, especially in tier 2 and 3 towns, don’t enjoy exposure and guidance when compared to their metro counterparts,” said Ashwini Jain, Co-founder & CEO, ForeignAdmits.
Additionally, It has over 250 agent’s partners network in place to meet the growing demand for data-driven and peer-to-peer admission counseling in India. ForeignAdmits with a team size of close to 100 is currently serving students in India and 10 other countries and has over 35 university partnerships.
“With the use of technology, we aim to transform the overseas study industry with better, efficient and trusted technology products. This will also enable counsellors and agents to help students with a better admission and post admission experience,” Ashwini adds.
Speaking on the investment, Anil Joshi, Managing Partner at Unicorn India Ventures, said, “ForeignAdmits has demonstrated a strong growth track record since we last invested in the company. As the world opens up and students look for higher education opportunities in top global universities, we want to back the company as it goes full steam ahead with foreign admission season.”
Foreign Admits said it intends to help over 1,00,000 students over the next 12 months. It recently launched the Integrated Study Abroad Guidance Product which offers financial and career counseling, admission, and post-admission support in one place, it adds.