Total amount raised
₹500 Millions
Latest funding date
Location
GradRight has successfully raised funding through a Series A round, with IvyCap Ventures as a key investor. The platform offers a comprehensive suite of services, including education loans, scholarships, and financial advisory, aimed at simplifying the process of studying abroad for students.
Keep reading to explore the intricacies of GradRight's fundraising journey and the investors backing this innovative Ed-FinTech platform.
What Is GradRight?
GradRight, founded on March 5, 2019, by Aman Singh and Sasidhar Sista, is an Ed-FinTech company based in Hyderabad, Andhra Pradesh, India. The platform aims to simplify the process of studying abroad by offering education loans, scholarships, and financial advisory services.
With a workforce of 101-250 employees, GradRight leverages AI to provide personalized recommendations for program selection, financial aid, and other essential services like health insurance and forex. Their comprehensive suite of services ensures that students have all the support they need to pursue their education abroad.
GradRight's innovative approach has made it a key player in the Ed-FinTech space, helping over 200,000 students and processing ₹16,300 crore in loan requests. Their platforms, SelectRight and FundRight, are designed to offer tailored solutions for students' educational and financial needs.
How Much Funding Has GradRight Raised?
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial services.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach more students.
- Series A
- Amount Raised: ₹50 crore (approx. $6.7 million)
- Date: August 2023
- Lead Investors: IvyCap Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand business operations and make international higher education more accessible and affordable.
Total Amount Raised: $6.7 million. Current Valuation: Not publicly disclosed.
Key Investors
- IvyCap Ventures
- Details: IvyCap Ventures is a venture capital firm that invests in early to growth-stage companies. The firm is led by Managing Partner Tej Kapoor and Founder and Managing Partner Vikram Gupta.
- Investment Focus Areas: Technology, healthcare, education, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for GradRight?
GradRight stands at the cusp of a transformative journey, with opportunities to revolutionize student financing and college selection. The platform's AI-driven ecosystem connects students, universities, and lenders, making higher education more accessible and affordable. With partnerships spanning 1,000 universities and 15 lenders, and having processed over $1.75 billion in loan requests, the potential for growth is immense.
Future fundraising rounds are likely as GradRight scales its operations and enhances its technology. The company could attract more venture capital and private equity investments, leveraging its proven track record and expanding global reach. However, challenges such as competition from other edtech and fintech companies, regulatory hurdles, and maintaining data security will need to be navigated carefully.
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