The world of education technology has seen a surge of innovative solutions for students seeking to study abroad. One such example is GradRight, a Mumbai-based startup that helps students select their university majors and finance their studies. Recently, they closed a Series A funding of INR 50 crore ($6.05 million) from homegrown venture capital firm IvyCap Ventures.
GradRight, founded in 2019 by Aman Singh and Sasidhar Sista, is designed to take the hassle out of the application process. It uses an AI-based ecosystem of universities and banks to connect potential students, universities, and financiers, all without the use of intermediaries.
The platform has already processed loan requests of more than $1.75 billion (INR 14,300 Cr) and assisted more than 55,000 students. It has collaborations with 15 lenders and over 50 international academic institutions in the US, Canada, and Europe, offering students a choice of 13,100 programmes across 1,000 universities.
Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, expressed his belief in the platform’s potential: “GradRight’s technology-driven solution is well-positioned for profitable scaling; it is adaptable across markets and can emerge as a leader in the sector.”
Tej Kapoor, IvyCap Ventures’ managing partner, will join the GradRight’s board as part of the deal. With the newly raised funds, GradRight is aiming to build an AI-powered network involving universities and financial institutions to improve the accessibility and cost of international higher education for low- and middle-income students.
At EdTechReview, we are excited to see GradRight’s mission to make global education more accessible to everyone. With the help of the intelligent technology they’ve built, we’re sure that they’ll be able to make a huge impact in education and help countless students achieve their dreams.
