Info Edge India invests $1.1 mn in ed-tech startup Univariety

Hyderabad headquartered International Education Gateway, which owns education courses aggregator Univariety, has raised $1.1 million in an ongoing Series A round from Info Edge India.

This is the second investment that the Naukri parent has made in the company. In 2017, Info Edge India invested $1.9 million in a Series A round in Univariety, as per VCCEdge data. 

Founded in 2015 by Jaideep Gupta, Univariety offers higher education courses to students registered on the platform from its partner schools. It claims to offer over 75,000 courses from more than 14,000 universities across 10 countries. In India, Univariety has onboarded 350 universities and over 100,000 students.

The company plans to use the latest funding to roll out new products and scale up its alumni platform, a statement said.

“Our next phase of growth is focused on bringing in parents fully into the mix. Our products and programmes will help parents upgrade the definition of success to beyond just the college admissions,” Gupta, founder of Univariety said.

Gupta is a management graduate from Narsee Monjee Institute of Management Studies, Mumbai and worked with Ernst & Young and Morgan Stanley prior to starting Univariety. 

Hyderabad-based Loestro Advisors acted as the sole advisor to this transaction.

Other than job search portal Naukri, Info Edge also operates a number of its own internet properties including realty platform 99acres, matrimony portal Jeevansathi.com, and online education platform Shiksha.com. It is also an investor in online food delivery startup Zomato.

Info Edge formally entered the venture capital business in January this year with the launch of its maiden VC fund named Info Edge Venture Fund (IEVF). The fund, which currently invests from a Rs 100 crore ($14 million) corpus, made its debut deal in digital entertainment content provider Qyuki Digital Media this month. It later participated in the funding of offline-to-online commerce and fintech platform DotPe.