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Info Edge invests $1.1 Million in leading edtech platform Univariety

Posted On: 2020-03-20 18:42:00

Univariety, India's leading edtech platform, today announced it has raised $1.1 Mn (INR 8 Cr) from India's premier online giant Info Edge. In a span of two years, this is the second investment that Info Edge has led in the Hyderabad-based startup Univariety. Info Edge is India's premier online classifieds company in recruitment, matrimony, real estate and education with multiple leading sites like Naukri.com, 99acres, Jeevansaathi, etc.

This Primary Funding will be used by Univariety for Business Growth with a focus on product development, scaling up its alumni platform for Schools and deeper brand building. The products will be unique and will support the students & parents in making crucial decisions along the career journey.

Commenting on the investment, Hitesh Oberoi, Co-Promoter, MD and CEO, Info Edge said, "India is witnessing a growing need for students to make more informed choices about their future. Univariety has succeeded in making Career Guidance mainstream in K-12 education, by partnering with hundreds of top Schools. The next phase of Career Guidance is about preparing students for the Skills and Careers of the 21st Century, many of which don't even exist today. Univariety is uniquely positioned to impact how Indian Students face Global competition beyond just College admissions. We believe it is 'Career Guidance 2.0'."

Univariety's approach is one of a kind and ensures that guidance comes from multiple perspectives (psychometric tests, counselors, alumni, and universities). It is the only company in the category to have exclusive partnerships with top brands like UCLA, Fortune India, and many others.

Speaking about the latest fundraise, Mr. Jaideep Gupta, Founder, and CEO, Univariety said, "The fact that Info Edge has invested in us despite the gloomy external environment is invigorating. Univariety is deeply committed to making Career Guidance mainstream in Indian Schools. Our next phase of growth is focused on bringing in parents fully into the mix. Our products & programs will help parents upgrade the definition of Success to beyond just the College Admissions."

Hyderabad based Education focused Loestro Advisors was the sole advisor to this transaction.

Shares of INFO EDGE (INDIA) LTD. was last trading in BSE at Rs.1943.05 as compared to the previous close of Rs. 1975.65. The total number of shares traded during the day was 73913 in over 1676 trades.

The stock hit an intraday high of Rs. 2072.3 and intraday low of 1865.85. The net turnover during the day was Rs. 148653725.


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