Adventum Student Living Pvt Ltd, which operates the student accommodation platform UniAcco, on Monday said it has raised $5 million (around Rs 39 crore) as growth capital in a funding round led by pharma company Idea Cures’ founder, Suresh Pareek.
The startup plans to deploy the raised capital to grow and expand operations globally and build brand awareness through marketing. It is planning to hire fresh talent and deepen its focus on building technology and a data science team.
Other investors who took part in this round included Vipul Jain, EuroKids co-founder Vikas Phadnis invested via his advisory firm Auctus Capital Pvt. Ltd, Shreeji Brothers, among others.
“We at ASL aim to transform the student journey and add value to their overseas education endeavour at every step. Our ultimate goal is to provide a holistic ecosystem for the student community and make the entire journey to study abroad a hassle-free experience," said Amit Singh, founder of ASL.
Launched in 2020, Adventum Student Living (ASL) helps students to find accommodation and education loans via its online platforms - UniAcco, UniCreds, and UniScholarz. It also helps students pursuing overseas higher education with various services. The startup aims to reduce the dependency of students on career counsellors, student loan consultants and accommodation providers.
“The funding allows us to strategically expand the three business entities. ASL will further strengthen its position in the global market by enforcing strategies and expanding various divisions within the company along with other key functions. ASL has been a profitable venture from the first year of operation while growing at 400% YoY," said Sayantan Biswas, co-founder of Adventum Student Learning.
In 2020, UniAcco raised $1 million (around Rs 7.78 crore) from the wealth management firm Adventum Offshore. The transaction was executed by Validus Wealth.
