GradRight, a company based in Mumbai has successfully raised INR 50 Cr, in Series A funding from IvyCap Ventures. The funding round was led by Tej Kapoor, who is also joining the board as the Managing Partner. GradRights platform utilizes Artificial Intelligence technology to bring together students, universities, and lenders helping individuals make informed decisions about their education. With more than $1.75 Bn worth of loan requests processed and collaborations established with 15 lenders and, over 50 international institutions GradRight is revolutionizing study opportunities.
Mumbai-based startup, GradRight, has successfully secured INR 50 crore in Series A funding through IvyCap Ventures. This significant investment marks an important step forward for GradRight’s expansion plans. A crucial aspect of this funding deal involves Tej Kapoor, the Managing Partner of IvyCap Ventures, joining GradRight’s board, bringing his valuable insights to the company’s strategic direction.
Founded back in 2019 by Aman Singh and Sasidhar Sista, GradRight has engineered a comprehensive ecosystem, uniting potential students, universities, and lenders onto a unified platform.
This innovation revolves around an AI-powered infrastructure that bridges universities and financial institutions, enabling students to make well-informed decisions about their educational pathways. This approach simultaneously empowers universities to identify suitable candidates and empowers financial institutions to offer tailored funding solutions.
In a prepared statement, GradRight expressed its intention to channel the newly acquired funds toward amplifying its operational reach. The startup’s commitment to ensuring equitable access to education aligns perfectly with IvyCap Ventures’ shared vision, underlining the compelling reasons behind their partnership.
The impact of GradRight’s platform has been substantial, having successfully processed loan requests exceeding $1.75 billion (equivalent to INR 14,300 crore) and aiding over 55,000 students. This staggering number underscores the platform’s effectiveness in providing tangible assistance to students navigating their educational journeys.
Highlighting their shared enthusiasm for their mission, GradRight’s founders jointly conveyed, “As a technology-centric enterprise employing a platform-driven approach to address these challenges, we are resolute in our dedication to equipping every student with the necessary resources for their rightful education. We are gratified that IvyCap Ventures not only resonates with our vision but has also chosen to bolster us in our global aspirations. Their endorsement of our distinct business model serves to reinforce our unwavering commitment.”
GradRight’s influence extends to partnerships with over 15 lenders and more than 50 international academic institutions spanning the United States, Canada, and Europe. This expansive network offers students access to a broad selection of 13,100 programs across 1,000 universities.
The arena of overseas education has emerged as a fertile ground within India’s startup landscape, facilitating experimentation with tech-driven products and services.
Among the noteworthy players in this sector are Leverage Edu, which recently secured $40 million in funding, Leap, a recipient of $75 million in the previous year, and UniScholars. These startups are joined by a multitude of individual agents and small enterprises, collectively contributing to the ongoing evolution of the study abroad domain.
