Serial entrepreneur Kashyap Deorah who has also authored – The Golden Tap—the inside story of hyper-funded Indian startups, and VRL Logistics MD Anand Sankeshwar have led the funding for the Delhi-based company.
Arjun Mehta, former CFO at American Express in India, the husband-wife duo of UCLA Professor Bhagwan Choudhary and 2Meditate founder Swati Desai, NYU Stern Director Anindya Ghose, Deepak Jain, founder of Flexiloans, former BabajobCFO Sadashiva NT and Satish Koul, VP-Union National Bank Abu Dhabi have also participated in this round among others.
Akhsay Chaturvedi, founder and CEO, Leverage, said the company will be using the funds to strengthen their product and technology platform by investing in areas like artificial intelligence. Leverage is also looking to hire new talent as it expands operations. Started by Chaturvedi and former CL Educate executive Rajiv Ganjoo, the startup uses machine learning to help students match with over 2,500 colleges and over 100 experts for career guidance.
“A large number of young Indians aspire for higher education and a number of colleges worldwide are looking for these students. Matching them at scale is an unsolved problem. Akshay is the right entrepreneur to connect the two worlds,” said Deorah. Startups in the education space have seen steady flow of interest from investors who have backed firms like Byju’s Unacademy, CueMath, flipClass, Toppr among others.
“We believe a full-stack approach is necessary to build solutions that scale, specially in a market as big and as global as ours. We let machine intelligence and a curated marketplace of experts tell students what’s right for them, rather than opting for inexperienced traditional options. Our SaaS platform helps the aspiring student work on her applications get on-demand mentoring, access to education loans and forex, living, and much more,” said Chaturvedi.