EduFund Raises $6M to Expand AI-Powered EdTech Services

EduFund, an India-based education financing and planning platform, has raised US$6 million in its Series A round, led by Cercano Management and MassMutual Ventures.

The fresh capital will be used to scale its AI-powered advisory services, enhance its education loan products, and deepen its reach in Tier II and III cities, aiming to support underserved undergraduate students. Founded in 2020 by Eela Dubey and Arindam Sengupta, EduFund operates as a comprehensive financial platform for Indian families looking to plan and fund their children’s higher education, both in India and abroad.

Key Highlights

• EduFund raises $6 million in Series A led by Cercano and MassMutual Ventures
• Funding to scale AI-powered education advisory and expand student loan access in Tier II/III India
• Platform serves 250K+ users with 40+ asset managers and 15 lending partners

The startup provides investment planning, education loans, visa assistance, remittance services, and counseling, creating a 360-degree solution for education financing.

With over 250,000 users, EduFund has built a robust ecosystem of 40+ asset managers and 15 lending partners, giving families access to diversified investment and funding options tailored to their goals. The new funding follows a US$3.5 million round in 2023, also led by MassMutual Ventures, bringing EduFund’s total funding to US$12 million.

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The company’s latest move underlines the growing importance of AI-driven financial tools in the Indian EdTech landscape, especially as the demand for global education continues to surge among middle-income households. EduFund’s focus on democratizing access to financial planning tools could make it a key player in the evolving education finance sector.