Gurgaon based CollegeDekho, an online platform which lists colleges across streams in the country and offers test preparation material, has raised $2 million in funding from Man Capital. The new capital will be used for upgrading its technology, acquiring new talent, marketing activities and onboarding more colleges.
In December last year, the company had raised seed funding worth $1 million from GirnarSoft, the parent company of CarDekho. CollegeDekho suggests colleges to students based on stream and city inputs given by the user; it creates an independent profile for each individual user, using these inputs.
It also lists college and provides information on entrance exams. Students can also ask questions using its online discussion forums. CollegeDekho currently claims to have a database of 22,000 colleges on its online platform. Its services are available through a website and as a mobile app for Android users.
Layoffs at GrinarSoft: GirnarSoft, the parent company of CarDekho, Gaadi and Zigwheels, confirmed to MediaNama that it has laid off 60 people in the company in a round of restructuring. This month, the company acquired roadside assistance company Help On Wheels in an all cash deal. In December 2015, it acqui-hired Drishya360s, an augmented reality and video production startup in a cash and stock deal, for an undisclosed amount
Recent developments in the education tech space
–This month, Finland based edtech startup Claned raised $1.46 million in a round of funding led by Indian CBA (Cross Border Angels and Investors) members.
-In the same month, Pune-based Maharashtra Institute of Technology (MIT) launched an accelerator called Eduglid for education technology startups, which provides seed funding of up to Rs 15 lakh in return for a minor stake.
– In January, Amazon India launched Exam Central, under the books department on the website where users can get access to sample question papers, solved papers and articles from academicians for entrance exams.
-In the same month, McGraw Hill Education India (MHE) tied up with Edutor Technologies’ IGNITOR, which provides tablets with educational content, to provide MHE’s Education book catalog in a digital format and distribute across universities and colleges.
-In the same month, online open course provider Udacity raised $105 million in Series D round of funding led by German media group Bertelsmann and other investors