Education Service Startup Univariety Raises INR12.5cr From Info Edge
Education Service Startup, Univariety, a technology solution platform that helps schools provide career and college guidance to their students, announced on Wednesday receiving an investment worth Rs. 12.5 crore from Info Edge, the parent company of naukri online job portal.
With this investment, Info Edge holds 29.62% stake in the company on fully converted and diluted basis.
The Hyderabad-based Univariety provides products, services and counselling to students, schools, colleges and educators.
The funds raised will be used primarily for drafting a marketing strategy to generate interest from schools, development of a mobile app for iOS to integrate alumni features, for multiple product tie ups and marketing and brand building, Jaideep Gupta, Founder, Univariety said.
“Top colleges like IIT’s and IIM’s are known for their placements and alumni network. Univariety is bringing that same awareness and those systems at the K-12 school level,” said Hitesh Oberoi, Co-Promoter, MD and CEO, Info Edge.
The earlier investor in Univariety was the People Combine Group which operates several IB and CBSE schools across India. They continue to remain invested in Univariety along with the incoming investor Info Edge.
In education segment, Info Edge owns online education classified Shiksha.com. And, it recently infused Rs 37.93 crore in Applect Learning Systems, which runs the e-learning site MeritNation.
Univariety is a technology solution provider that helps student make the best possible choice while selecting his/her graduation course. It is a marketplace with students at the centre of the college admission process where colleges, counsellors and test experts provide customized guidance and offers to them. The organization has a network of over 400 schools spread across 30+ cities in India.