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EduKart raises $1 million to fund the education sector

siliconreview EduKart raises $1 million to fund the education sector

The Indian education sector is estimated over US $60 billion where 50% is made up of higher education, K12 40% and coaching and other forms of education amounting to 10 %.

Edukart, a Delhi-based education house has collected USD 1 million from Holostik Group’s United Finsec (family office arm), Yuvraj Singh’s YouWeCan Ventures and 500 Startups. Other investors include Vijay Shekhar Sharma, Amit Patni and Arihant Patni, Manish Kheterpal, and Stanford Business School’s alumni have also been a part of this.

Edukart was founded by Ishan Gupta, a Stanford University (USA) alumnus, and Mayank Gupta, a graduate of Indian Institute of Management, in 2011. Ishan hadworked with Facebook and was also a team member of Paytm. Mayank on the other hand had earlier worked in Educomp, StudyPlaces.com, IBM and Bank of America.

The organization has partnered with over 90 course providers to increase enrollments in more than 2000 courses in K12, various coaching centers, entrance coaching classes, degrees and diplomas and other industry relevant certifications.

The investment that is generated will be divided into three major areas:

Technology – for further advancement and upgradation

Sales – to increase the number of courses

Marketing – to tweak up the number of enrollments

USP of EduKart
EduKart has been very successful in helping students and their parents in making successful decisions in matters related to education. It has also helped various education providers in facilitating a platform to expand their reach and services to tier I and tier II cities.

According to Ishan, the key strengths of Edukart include:

1) Engaging with institutions to help them come online and to promote their courses

2) Drive enrollments for the course providers

3) Student support throughout the journey

“I have always believed that following your passion is very important in life. At the same time, a focus on education is also a must in today’s cut-throat competitive environment” – Yuvraj Singh

People now-a-days are spending hugely on providing education to their children, especially among the tech-savvy middle-class. And now with the advent of digitalization and online platforms, education through internet will have a significant growth in the near future. And EduKart.com is just the option to execute this dream with a strong and experienced team.

The Future ahead
EduKart is aiming at 5x growth in 2015. The courses offered will increase from 2000 to 10,000 and the course providers to be 100 to 500. They are also about to introduce educational courses in various KPOs, BPOs and financial institutions.

And in the next three years, EduKart is hoping to drive gross enrollment sales over $100m for its course providers, by enrolling 100,000+ students annually.

“Funding is not the end goal, it is just a part of the journey where we aim to become the largest marketplace of course providers in India”, concludes Ishan.