Career counselling start-up iDreamCareer (iDC) has received ₹12.5 crore in a round led by Menterra Social Impact Fund.
The round saw participation from Swiss-based Artha Impact and follow-on participation from existing investors Atlanta, US-based Gray Matters Capital (GMC). iDC will use the funds to add features like one-stop university application, scholarship and financing to its’ offering, expand the leadership team and implement advanced technology interventions supported by a best-in-class counselling program will widen and deepen the impact of its work.
Ninety-three per cent of Indian schools don’t have any counsellors impacting better higher education and career choices, particularly less privileged students. iDC’s solutions address this gap and help students make informed career choices.
Ayush Bansal, Founder, iDreamCareer (iDC), said, “Over the last 10 years we have partnered several multilateral organizations, governments agencies and corporates to deliver career counselling solutions to 20+ million students. This investment will help us build a leading career navigation solution focused on the future of work and studies.”
According to Mukesh Sharma, Head of Investments, Menterra,“This investment in iDC is to address the disparity faced by students, especially from poorer families and smaller towns to access quality information and counselling while making their education and career choices.”
In her comments, Smita Sircar, CEO of GMC, said, “We’re delighted to make a follow-on investment in iDC. It continues to be a compelling impact investment for GMC, as 85 per cent of the career counsellors are women and the B2C offering enables girls to pursue a path towards meaningful employment of their choice.”