Mumbai-based startup GradRight improving higher education access has secured $6.1 million in Series A funding from IvyCap Ventures, marking a significant step toward enhancing accessibility to quality higher education.
The investment will facilitate the expansion of GradRight’s innovative AI-powered platform that connects students, universities, and lenders seamlessly. With the infusion of funds, GradRight aims to transform how students select and finance their education, making it more affordable and transparent for lower and middle-income students worldwide.
Founded in 2019 by Aman Singh and Sasidhar Sista, GradRight’s pioneering Ed-FinTech B2C-SaaS ecosystem is designed to reshape the higher education landscape.
The platform brings together students, academic institutions, and financial institutions, enabling smarter decision-making through technology, data science, and community collaboration.
GradRight addresses the challenges students face in selecting suitable programs, universities identifying compatible students, and banks financing deserving individuals.
Fulfilling a Global Vision
Aman Singh, Co-Founder and CEO of GradRight, expressed excitement about the partnership with IvyCap Ventures, emphasizing the company’s commitment to ensuring every student has the means to access quality education.
The infusion of funds aligns with GradRight’s mission to democratize higher education opportunities, particularly for students from Tier 2 and Tier 3 cities. By leveraging AI and data science, GradRight has already processed loan requests exceeding $1.75 billion, aiding more than 55,000 students in finding and funding the proper education.
GradRight’s platform boasts collaborations with over 15 lenders and 50+ prestigious international academic institutions across the US, Canada, and Europe.
This collaboration offers students a diverse choice of 13,100 programs across 1,000 universities, extending their reach to global education prospects. The company’s unique approach addresses the lack of guidance and financial constraints that hinder millions of capable students from pursuing higher education.
Tej Kapoor Joins the Board
With the recent funding round, Tej Kapoor, the Managing Partner of IvyCap Ventures, will contribute his expertise to GradRight by joining its board.
Kapoor believes that GradRight has the potential to redefine the global higher education admissions and financing landscape through its technology-driven solution. The innovative platform’s adaptability across markets positions it as a market frontrunner.
The need for accessible higher education is evident from the growing number of Indian students studying abroad. In 2022, over 1.3 million Indian students pursued education overseas, with the USA, Canada, and Australia emerging as preferred destinations.
Ministry of Finance data shows that education loans worth approximately $5 billion have supported Indian students’ international education endeavors over the past decade.
GradRight will empower students, universities, and financial institutions through its innovative technology, strategic partnerships, and data-driven approach. By bridging the gap between aspirations and accessibility, GradRight’s platform is on track to reshape the future of higher education.
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