Lighthouse Canton has contributed Rs. 30 crore, or around $3.5 million, to CollegeDekho, an online resource that assists students in selecting the best college.
A $35 million Series B investment headed by Winter Capital, ETS Strategic Capital, Calega, and Man Capital was closed by CollegeDekho earlier in December 2021.
With the most recent fundraising effort, the organization will improve its IT infrastructure, attract a wider audience, and guarantee smooth operations throughout the next admissions season.
Over the past seven years, CollegeDekho, which was founded by Ruchir Arora, has assisted over two lakh students in getting accepted into Indian colleges. Additionally, it offers skill-based degree programs in collaboration with colleges.
The business just brought on two seasoned experts to bolster its leadership. With almost 30 years of expertise, Arshad Mumtaz became the retail company's chief operating officer. With more than 20 years of sales and growth experience, Deep Prakash joined as Head of Sales—retail Business and GetMyUni.
According to TheKredible, CollegeDekho's operating revenue climbed from Rs. 163 crore in FY23 to Rs. 216 crore in FY24. In the previous fiscal year, their losses stayed constant at Rs. 129 crore.
CollegeDekho's revenue from operations increased to Rs. 216 crore in FY24 from Rs. 163 crore in FY23, according to consolidated financial statements obtained from the Registrar of Companies (RoC). The company was established back in 2015, is a marketplace for college admissions and higher education services. It provides student counseling and lead generation, university partnerships, education loans, test preparation, and study abroad services.
The company has not provided the complete revenue breakdown. Its primary source of revenue is commission on admissions, marketing services, promotion and advertising, online coaching, and other technology solutions. The company also added Rs. 6 crore in interest and investment gains, bringing its total revenue to Rs. 222 crore in FY24.
