The 5 months old startup, Leverage has raised an undisclosed amount in seed funding from a bunch of investors, including Arjun Mehta, former CFO at American Express India; Kashyap Deorah, founder, Hypertrack; Sadashiva NT, a former chief financial officer of Babajobs and Anand Sankeshwar, Managing Director, VRL Logistics and others.
The startup was founded 5 months ago in April 2017 by Akshay Chaturvedi who was the alumnus of Indian School of Business along with and Rajiv Ganjoo. Prior venturing into the startup world, Chaturvedi used to work with Babajobs as a senior executive.
The duo has started Leverage as an online platform for higher education. Being headquartered in Delhi, the startup runs a career assessment and mentorship programme.
Commenting on the development, co-founder Akshay Chaturvedi said, “We let machine intelligence and a curated marketplace of experts tell students what’s right for them, rather than opting for inexperienced traditional options, many times family members.”
“Our software-as-a-service platform helps the aspiring student work on her applications, get on-demand mentoring, access to education loans and foreign exchange, living, and much more,” he added.
Leverage states that it matches students with over 2,500 colleges outside India through its panel of 100-plus experts. The company uses machine learning to help students build academic profiles, including writing papers and filing for patents for the selection process. Not only this, Leverage offers UnivGateway, a Saas-based tool to universities to help them admit the right students.
The edtech firm plans to utilize freshly infused funds towards its product development and to grow its team size.
Earlier in July 2017, Gamified edtech startup PlayAblo had secured $600k funding led by ABI-Showatech (India) Ltd. In the same month, Thinkerbell Labs, which builds literacy devices for the visually impaired had raised an angel investment of Rs 1.3 Crore from Indian Angel Network and Anand Mahindra.