In a move to boost its operational capabilities and reach before the admission season, CollegeDekho, one of India’s leading edtech platforms for higher education, has raised INR 30 crore (~USD 3.5 million) from Lighthouse Canton, a global investment firm.
This latest funding comes after the company’s USD 35 million Series B round in December 2021 led by Winter Capital, ETS Strategic Capital, Calega and Man Capital. The continued investor interest in CollegeDekho reflects the company’s growth story and its role in bridging the gap between students and higher education institutions in India.
Objectives of the Fundraise
The company will use the new capital to:
- Upgrade technology to streamline operations.
- Expand reach to serve more students and institutions.
- Strengthen services during the college admission period.
Ruchir Arora, CEO and Co-Founder of CollegeDekho said:
“This fundraise is a strategic move to ensure we are ready for the upcoming admission season and beyond. Our mission has always been to provide quality, skill-focused higher education and empower students to take informed decisions.”
Financials and Growth Metrics
CollegeDekho recently announced its FY24 financials which showed 32.2% growth in operating revenue from INR 163 crore in FY23 to INR 215.6 crore. Despite the scale up, net losses remained stable at INR 129 crore. The company has managed to control expenses while scaling up.
Over the last seven years, CollegeDekho has enabled admissions for over 2,00,000 students into Indian higher education institutions. Its collaborative programs with universities and colleges have generated INR 5,000 crore in fee income for these institutions.
Leadership Boost for Retail and Enrolment Growth
To strengthen its leadership and operational excellence, the company has brought in two new leaders to the team:
- Arshad Mumtaz joins as Chief Operating Officer – Enrolment Business. With 26 years of experience in sales, operations and outsourcing, Arshad has been in leadership roles at IGT Solutions, Spanco and Bharti Airtel. He will lead operations and sales for CollegeDekho’s retail business.
- Deep Prakash joins as Head of Sales – Retail Business and GetMyUni. With over 20 years of experience in sales strategy and market expansion, Deep has led initiatives at SMC Real Estate, Cloudfarm and Agent Hero. He will oversee national sales and drive revenue growth.
Ruchir Arora said:
“I’m really excited to have Arshad and Deep on board to lead our core Retail Admissions business. They will add immense experience to our team and help us drive efficiencies and growth in the business.”
About CollegeDekho
Founded in 2015 by Ruchir Arora, Rohit Saha and Saurabh Jain, CollegeDekho was created to simplify the higher education journey for Indian students. Its Common Application Form allows students to apply to multiple colleges with a single submission, saving time and resources.
The platform has grown into a comprehensive resource with data on over 35,000 colleges and numerous courses, and has seen 225+ million website sessions in the last year. It also offers free counselling to over 12 million students, helping them make informed decisions about their academic future.
Beyond student guidance, CollegeDekho works with institutions to offer future-skill oriented degree programs, to enhance employability and meet industry requirements.
The company’s global recognition was recently awarded the Growth Award at EdTechX London Fest, further validating its approach to transforming higher education in India.
Conclusion
The INR 30 crore funding from Lighthouse Canton is not just a funding – it’s a strategic catalyst for CollegeDekho’s next phase of growth. With new technology, deeper institutional partnerships and stronger leadership, the company is ready to scale its mission to democratize higher education in India.In the rapidly changing edtech space in India, CollegeDekho stands out.
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