Bengaluru based ForeignAdmits that offers personalised study abroad guidance to aspirants has raised INR 3.5cr in a seed round led by Unicorn India Ventures. The round also saw participation from well known angels like RiDiK Technology from Singapore, Manoranjan Mohapatra, Kumar Siddhartha (CEO, Greytrix), Chandra Shekhar Sharma (HoD, Physics, Reliable Institute, Kota, A division of Allen), Sudhanshu Mishra, Sagar Gandhi, Mayank Sharma (India Head of Prodigy Finance).
Started in 2020, ForeignAdmits is a data-driven platform providing authentic Study Abroad guidance to Aspirants using a data-backed counseling process and peer-to-peer mentorship by international graduates & alumni networks. Some of the well known alumni networks that ForeignAdmits work with are Columbia, Duke, CMU, Monash, University of Toronto and ASU. The Company focuses on the overall aspiration of the GenNext, taking them from mere aspirants to worthy candidates.
The Company is founded by IIT alums & international graduates Nikhil Jain and Ashwini Jain. ForeignAdmits is currently present in 6 key cities in India -- Mumbai, Pune, Bengaluru, Hyderabad, Kolkata.
Anil Joshi, Managing Partner, Unicorn India Ventures, says, - “Higher education in India is more focused now and producing disciplinary experts and has grown in a remarkable way. The Gross Enrolment Ratio in higher education has been significantly improving every year. With this thought, we have led the round in ForeignAdmits as the education platform is process focused and we have first-hand seen the impact it has made since its inception.”
ForeignAdmits, which was incubated at FIIRE, Goa, aims to make global education a reality for every deserving student. The Company which started just before the pandemic hit, has continued to grow strongly and organically. The focus has always been process focused where unwanted and non serious student acquisition is not encouraged to maintain a quality experience for both guide and the students.
ForeignAdmits has a "Mentor Mentee Connect"- A personalized mentorship product for aspirants from quality & verified mentors of top universities of their choice. The aim is to make processes transparent, organized and data backed. This ensures that students not only land up with multiple admits but also land in their college with better awareness of their chosen career paths and colleges.
Nikhil Jain, Co-founder & CEO, Foreign Admits, says, “We want to transform and disrupt the $90 billion global higher education industry by creating the largest online student community to make study abroad accessible and affordable to all high potential students. Studying abroad should not be just an elitist's dream and should be made accessible to all aspiring individuals who aim to achieve their dream of going to college. Our mission is to enable 100 million students in India with quality mentorship to help choose a better career by providing a cutting edge and comprehensive guidance platform for students aiming to pursue higher education in the best universities of the world.”
ForeignAdmits has grown 10 times in the last one year. Currently, it has close to one lakh MAU and 1.5 lakh user traffic per month, registering an organic growth of 650% in user base and traffic in 2021. In the next 12 months, ForeignAdmits aims to guide over 25,000 students in their foreign education cycle through tech enabled counseling process. It also plans to empower over 500 counselors to help students with proper guidance through our admission counselling products.
About Foreign Admits
ForeignAdmits provide Personalized Study Abroad Guidance to Aspirants, Using Data backed Counseling Process & Guided Peer to Peer mentorship by Foreign Alumni. We are a 20 member team, founded by 2 IIT Alumni & international graduates. We were incubated at FIIRE, Goa
Globally, over 200,000 students and aspirants have used ForeignAdmits to get advice from over 500 mentors from leading institutions and Fortune 500 organizations. We had closed our 1st Angel round in 2020 backed by few IIT Alumni Angels and some seasoned Angel Investors. Now we are backed by UIV, few strategic Angels from Singapore & India. We have established some healthy partnerships with brands like ETS TOEFL® and JIO. Our founders have been recognized by BSE Institute in top 50 Impact startups in past and featured on Doordarshan. We are present in over 5 major cities in India like Mumbai, Delhi, Bengaluru, Hyderabad, Kolkata, now with headquartered in Bengaluru. We are a team of 18 people now.
About Unicorn India Ventures
Unicorn India Ventures is a Mumbai-based early stage fund house started in 2015 by Anil Joshi and Bhaskar Majumdar. The Fund has also launched a UK India cross border fund for funding UK startups looking to enter India and have invested in 7 UK startups. From its first Fund, UIV has invested in 18 companies like Inc42, Sequretek, Pharmarack, Genrobotics, NeuroEquilibrium, SmartCoin, Open Bank, Open app to name a few. Unicorn India has also announced Fund II, which is a Rs 400 crore fund launched in 2019 which has invested in 9 companies so far.