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). The Noida-headquartered startup said in a statement that it will use the money to scale up and signifcantly expand its operations.
The investment was made out of CBA Capital’s Education Catalyst Fund (ECF), which had put money into the same startup in early January. Founded in 2011, Buddy4Study is a scholarship portal that helps students reach out to providers and manage their applications.
The platform lists scholarships from school to PhD level, and lets students screen, choose, apply and track their applications through an online scholarship management system. The same platform can be used by scholarship sponsors 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. Buddy4Study claims to have disbursed over Rs 5 crore worth of scholarships with more than 6,500 students benefiting in the process.
The company aims to facilitate another Rs 100 crore worth of scholarships to more than 10 lakh students in the country. “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,” said co-founder Manjeet Singh. Read more from vccircle.com…
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