CTPL Raises USD 4 Million in Funding Round for EdTech Growth

New Delhi, Aug 18 (PTI) Admission management company CTPL on Sunday said it has secured USD four million (about Rs 33 crore) in a Series A funding round.

CTPL's technology and strategic marketing innovations have streamlined university admissions, increasing efficiency and user-friendliness, a company statement said.

According to the statement, CTPL has successfully secured a USD 4 million Series A funding round, which includes a mix of dilutive and non-dilutive capital, reflecting the confidence of investors in the company's growth potential.

Led by Gujarat Ventures Private Limited (GVFL) and co-invested by Physis Capital, the round also saw participation from UCIC, Recur, and other investors.

"GVFL is pleased to lead the investment in CTPL, a company at the forefront of transforming the education sector with its cutting-edge technology solutions," said GVFL MD Kamal Bansal.

This funding underscores the pivotal role of technology in reshaping the landscape of admissions in the education sector.

"We have closely monitored CTPL's progress and are delighted to see their annual revenue double over the past three years while maintaining profitability. With this funding, CTPL plans to expand its offerings and pursue global expansion," said Ankur Mittal, Partner, Physis Capital.

CTPL founder and CEO Bikash Sahoo said that with the backing of GVFL, Physis Capital, and all our partners, we are eager to broaden our reach and empower more universities to scale their admissions processes.

CTPL's revenue has more than doubled in FY24, and the company aims for another 100 per cent growth in FY25, indicating strong market demand for its solutions.