Egyptian mogul Mohamed Mansour raises $26.5 million in Series-B funding for India edtech startup

Man Capital, an investment company belonging to the Egyptian billionaire Mansour family, has partnered with investors to raise $26.5 million in Series-B funding for the India edtech startup CollegeDekho, Economic Times reported.

CollegeDekho is a platform connecting education seekers and providers, while offering information about colleges, courses, entrance exams, admissions notifications and other topics.

Following the latest funding round, the company has a pre-money valuation of $90 million. Its last funding round was raised in May 2019, amounting to $8 million.

The startup plans to use the funds to increase the number of colleges that students can apply to on its platform. It will also further automate its services and expand its partnerships in allied services such as educational loans and student accommodation.

The round was led by Winter Capital Partners, ETS Strategic Capital and Calega. Man Capital is an existing investor in the startup, alongside Rajeev Chaba, who also partook in the round.

Man Capital is an independent entity wholly owned by the Mansour family.

The investment company was co-founded in 2010 by Egyptian billionaires Mohamed Mansour and Loutfy Mansour, the patriarch of the Mansour family.

CollegeDekho claimed to have facilitated 20,000 college applications in the last academic year and said it has 700 Indian colleges on board its common admissions platform.

“In addition to the exponential growth in college admission and wider India Ed-Tech market, we are also seeing a rise in integrated solutions for college students across the globe,” Mohamed Mansour said.