Adventum Student Living (ASL), a study-abroad platform that owns the UniAcco, UniCreds, and UniScholars brands, on Monday announced that it has raised $5 million led by new investor Cornerstone Ventures (CSVP Fund) and existing investors as a bridge to its proposed Series B round of $20 million.
Founded in 2019 by Amit Singh and Sayantan Biswas, ASL is a unified student lifecycle management platform that assists students in their application-to-accommodation journey with a digital-first approach. To date, ASL claims to have benefitted over 500,000 students through its platforms.
The new investment will enable ASL to expand its product offerings to meet the needs of students, universities, educators, and administrators. The investment will also be used to strengthen its position and build deeper partnerships in key geographies of the UK, EU, Canada, Australia, and the US, the startup said in a statement.
“Despite the economic challenges brought on by COVID-19, when many of our peers were struggling for survival, our business soared through the market turbulence and achieved an impressive 300% y-o-y growth since then. We will continue to unify student journeys on our platform and strengthen our product portfolio across geographies,” said Amit Singh, founder and CEO of ASL .
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from April 20-24, 2023.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Industry | Verticals |
|---|---|---|---|---|---|---|---|
| Adventum Student Living | Mumbai | 5 million | Bridge | Cornerstone Ventures (CSVP Fund) | – | Education/Training | Edtech |
| DevX CoWorking | Ahemdabad | 3 million | – | Urmin Family Office, Bidiwala Family Office, Navneet Publications, Venus Infrastructure, Ducon | – | Real Estate | Real Estate Tech |
| Two Brothers Organic Farms | Pune | 1.8 million | Pre-Series A | Akshay Kumar, Virender Sehwag | – | Agribusiness | Agtech |
| Genefitletics | Delhi | 1 million | Pre-Seed | – | – | Biotechnology | Biotech |
| Deciml | Pune | – | Bridge | – | Zakir Khan, Viraj Sawant, Saurabh Abbi, Abhishek Oswal, Chirag Chetan Gandhi, Hemant Ruprell, Shashank Deshpande, Sandeep Kumar Chawda, Rasiklal R. Thakker, Vinit Pardeshi, and Blaze Management Labs LLP | Financial Services | Fintech |
| Hashtag Loyalty | Mumbai | – | Corporate | Coca-Cola India | – | Software | SaaS |