Education marketplace startup EduKart has raised $1 million led by United Finsec, YouWeCan Ventures and 500 Startups.
EduKart wants to disrupt the $60 billion Indian education sector which is split 50% in higher education, 40% in K12 sector and 10% in coaching.
The firm has partnered with over 90 course providers over the past year to drive enrollments in more than 2000 courses in K12, entrance coaching, degrees, diplomas, etc.
EduKart will utilize the newly raised capital to upgrade its platform, increasing its course portfolio and strengthen its marketing efforts.
Tier 2 and Tier 3 cities have been on the startup’s growth radar and is driving course sign ups by offering dedicated counselling support and flexible payment options.
Over the next three years, EduKart is looking to drive $100mn worth of sales for its course providers and aims to enroll 100,000+ students each year.
EduKart’s existing investors such as Vijay Shekhar Sharma, Manish Kheterpal, Amit Patni and Arihant Patni, and Stanford Business School’s alumni angels have also participated in the current round.