EduFund, a higher education planning app, has recently raised INR 2.5 crore as part of its pre-seed funding round led by US-based holding corporation View Trade Holding Corp, followed by other angel investors from a private syndicate through Angel List.
Founded in 2020, EduFund works as a planning tool for parents looking to build an education fund for their child’s higher education. The app’s college calculator provides complete transparency on the true cost of the university by looking at factors such as inflation, currency, and accommodation expense. The app also helps to reduce the complexity of studying abroad by offering counselling services for the college admission process.
EduFund deliberately addresses the huge gap between being academically and financially ready to help the students obtain dream education.
Speaking about the company, Eela Dubey, Co-founder and CEO of EduFund, said in a statement,
“What we are trying to build at EduFund is a unified platform that best suits one’s academic aspirations. Looking back, it was a challenge to put our heads down and just keep building a product so granular for the past eight months. As a team, this capital raise of 2.5 crore is a good validation for us and motivates us to focus on customer feedback, product development, and client acquisition. We are thankful to our angel’s and our institutional partner VTS who showed faith in us pre-product.”
The company plans to use the fresh funds for product expansion by integrating more plans to fulfil the financial and education goals of parents and students.
Commenting on the investment, James StClair, President, VTS, said,
“We are excited to be a part of this forward-looking company, driven by a passionate team of innovators. With an emphasis on education, their ultimate success is inevitable.”
EduFund is also planning to use the funds for market acquisition. It is looking to focus on impactful marketing campaigns with greater outreach to acquire more parents planning for overseas education for their children.
The company has also entered into multiple counsellor partnerships including OnCourse Global, Zsoldos Coaching, Reva Education Consultant, and Overseas Education Consultancy.