Overseas study assistance startup ForeignAdmits has raised about $450,000 from Mumbai-based early-stage fund Unicorn India Ventures (UIV) and other investors like Bengaluru-based SEA Fund.
Beerud Sheth, founder of Gupshup, Zishaan Hayath, founder of Toppr, and Keshab Panda, former chief executive officer of L&T Infotech also participated in the round.
ForeignAdmits plans to utilize the fresh funding for enhancing its tech platform to provide a better experience to students and partners along with furthering its ongoing business development efforts.
Founded in 2020 by Ashwini Jain and Nikhil Jain, ForeignAdmits is an end-to-end study abroad platform for students and agents that gives peer-to-peer mentoring by international graduates and alumni network.
The startup helps students in applying for college applications digitally and undertakes post visa and pre-departure services such as education loans, forex, health insurance, credit cards, and bank accounts.
“Students especially in Tier 2 and 3 towns don’t enjoy exposure and guidance when compared to their metro counterparts. This is true for countries across the World,” said Jain, cofounder of ForeignAdmits.
Some of the well-known networks that ForeignAdmits works with are Columbia, Duke, CMU, Monash, University of Toronto, and ASU.
The Company has also launched the Integrated Study Abroad Guidance Product which offers financial and career counseling, admission, and post-admission support.
This is the second investment by UIV in Foreign Admits. The company raised a seed round of about $450,000 from Unicorn India recently. The total funding raised so far is around $1 million.
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