Foreignadmits Funding: ForeignAdmits raises Rs 3.26 crore in funding from Unicorn India Ventures, other investors

Bangalore: Study abroad support start-up ForeignAdmits has raised Rs 3.26 crore from Mumbai-based early-stage fund Unicorn India Ventures (UIV) and other investors such as 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 attended the round.

ForeignAdmits plans to use the new funds to enhance its technology platform to provide a better experience for students and partners while fueling its ongoing business development efforts.

Founded in 2020 by IIT Bombay Graduate Ashwini Jain and IIT Bhubaneshwar Alumnus Nikhil Jain, ForeignAdmits is an end-to-end study abroad platform for students and agents seeking peer-to-peer mentoring from international graduates and alumni networks.

The startup helps students apply digitally for college applications and handles post-visa and pre-departure services such as educational loans, foreign exchange, health insurance, credit cards, and bank accounts. “Students, particularly in Class 2 and 3 cities, do not enjoy attention and guidance compared to their peers on the Metro. This applies to countries around the world,” said Jain, co-founder of ForeignAdmits.

Some of the well-known networks that ForeignAdmits works with are Columbia, Duke, CMU, Monash, University of Toronto and ASU. The company also launched the integrated student advisory product, which provides financial and career advice, admissions and post-admissions support.

This is UIV’s second investment in foreign approvals. The company raised a seed round of Rs 3.5 crore

India recently. Total funding raised to date is approximately $1 million.

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According to ForeignAdmits’ prepared statement, the company has grown 10x over the past 12 months across various business growth parameters. Currently, the platform is seeing 2 lakh monthly traffic organically, which is growing by 25% month-on-month.

“As the world opens up and students seek higher education opportunities at the world’s leading universities, we want to support the company as it enters the overseas admissions season in full swing,” said Anil Joshi, Managing Partner of Unicorn India Ventures. The platform currently has a network of over 250 agent partners. ForeignAdmits, with a team size of almost 100, currently serves students in India and ten other countries and has over 35 university partnerships.

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