SUMMARY
This investment supports ASL’s growth across key verticals
The partnership between Brand Capital and ASL aims to facilitate a new era in education, enhancing accessibility to international study opportunities and reinforcing their commitment to academic success
The development comes at a time when the Indian edtech sector is significantly impacted by the current funding challenges
Adventum Student Living, a study abroad platform which owns UniScholars, UniCreds, and UniAcco, has secured $3 Mn (INR 24.9 Cr) from the Times of India’s strategic investment arm Brand Capital.
“With access to Brand Capital’s extensive resources and existing portfolio, ASL is excited to elevate its business offerings. We are eager to learn and scale alongside marquee industry-leading companies to fulfil dreams of global education for youth across India”, said Amit Singh, founder and director of ASL.
“We are confident our unique investment model will provide the necessary growth for ASL and find increased adoption for its varied mix of solutions,” said Srini Vudayagiri, the president of Brand Capital.
The partnership between Brand Capital and ASL aims to facilitate accessibility to international study opportunities and reinforcing their commitment to academic success, according to a statement.
Founded in 2019 by Amit Singh and Sayantan Biswas, Adventum Student Living helps students pursue education abroad. It offers student accommodation, education loans and scholarship programmes to students through UniAcco, UniCreds and UniScholarz, respectively.
ASL claims to be profitable since the first year of its operation while growing at 400% year-on-year (YoY).
Earlier, Adventum raised $1 Mn in a seed funding round from Adventum Offshore, an investment and wealth management firm, in 2020.
The company competes with the likes of Leapscholar, Eduvanz, UpGuide and Financepeer in the Indian education sector.
The development comes at a time when the Indian edtech sector is significantly impacted by the current funding challenges. While BYJU’S, once the poster boy of the edtech ecosystem, is going through a crisis, other startups have also not remained unaffected by the funding winter.
From layoffs to cost-cutting exercises, the Indian edtech startups have been taking a number of startups to survive through the funding winter. Besides, many edtech startups also shut operations amid the funding crunch.
Amid the slowdown in the edtech sector after the end of the Covid-19 pandemic, PhysicsWallah (PW), like many other edtech startups, entered the offline market.
Recently, edtech unicorn PW, led by Alakh Pandey, has expanded into offline education for primary classes with the launch of PW Gurukulam School.
