Education Catalyst Fund Again Invests In ed-tech startup Buddy4Study
Ed-tech startup Buddy4Study has raised $3 million (Rs 20 crore) in Series A funding from existing investor CBA Capital, which is backed by the Michael and Susan Dell Foundation (MSDF).
In a statement, the Noida-headquartered startup said it will use the money to scale up and signifcantly expand its operations.
Capital’s Education Catalyst Fund (ECF) a category II alternative investment fund owned by CBA capitals made the investment with its prior investment into the same startup in early January.
The 2011 startup helps students reach out to providers and manage their applications qualifying it for the scholarship portal for students from school to PhD level.
The platform lists scholarships, lets students screen, choose, apply and track their applications through an online scholarship management system.
Scholarship sponsors can use the same platform to list, market, screen, fund and track applicants.
The company was founded by Raj Kishor, Ashutosh Burnwal, Mohit Bhambri, Anirban Chatterjee, Manjeet Singh, Sandeep Kumar and Manasvi Singh.
As per the Buddy4Study claims, more than 6,500 students have been provided over Rs 5 crore worth of scholarships until now.
The company aims cater to more than 10 lakh students in the country with another Rs 100 crore worth of scholarships.
Manjeet Singh, co-founder of the startup said, “With the government providing a massive digital push in the same segment, it is only opportune to multiply our efforts and develop more innovative products to provide end-to-end financial aid to students.”