Tag: GVFL

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CTPL Secures USD 4 Million Series A Funding to Revolutionize Admissions Technology

Aug 17, 2024 by Mansi Praharaj 0 Comments #Admissions Technology, #Anukr Mittal, #Bikash Sahoo, #CTPL, #Gujarat Ventures Private Limited (GVFL), #GVFL, #Kamal Bansal, #Physis Capital, #Series A Funding

CTPL.IO

New Delhi, August 17, 2024: CTPL has successfully secured $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 Venture Finance 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. This investment underscores our commitment to supporting innovative ventures that drive significant impact. With CTPL’s robust admissions management systems and visionary leadership, we are confident in their ability to empower educational institutions to achieve greater efficiencies and enhanced student experiences,” remarked Kamal Bansal, MD, GVFL.

This significant funding milestone underscores the pivotal role of technology in reshaping the landscape of admissions in education sector. CTPL’s technology and strategic marketing innovations have streamlined university admissions, increasing efficiency and user-friendliness. “We’ve 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. Physis Capital has been a strategic partner, offering experiential capital and connecting CTPL with key business partners. We at Physis are proud to support CTPL as they continue to innovate and lead the way in transforming university admissions,” said Anukr Mittal, Partner, Physis Capital.

“We are delighted to announce the successful closure of our recent funding round, which will catalyze our endeavors in revolutionizing the education sector through technological innovation,” stated Mr. Bikash Sahoo, Founder & CEO of CTPL. “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.”

About CTPL:

CTPL currently serves a diverse clientele, facilitating over 30,000 admissions for partner universities and institutions in the academic year 2024. CTPL’s revenue has more than doubled in FY24, and the company aims for another 100% growth in FY25, indicating strong market demand for its solutions.

CTPL’s steadfast commitment to innovation and excellence has solidified its position as a trusted ally for educational institutions seeking to modernize their operations and provide a seamless student experience. By offering adaptable and personalized Admissions First solutions, CTPL is spearheading a more efficient and student-centric approach to admissions.

Leadership and Expertise:

Under the guidance of visionary founder Bikash Sahoo, who has a robust background in education, and a senior leadership team of experts, CTPL is dedicated to driving innovation and excellence in the education ecosystem. The leadership team’s wealth of experience and hands-on knowledge ensures that CTPL remains at the forefront of transforming the admissions landscape.

MidsCap Advisory, a Delhi-based boutique investment advisory firm, served as the exclusive advisor for this transaction.

 

Disclaimer: The information contained in this press release is provided by a third party and does not necessarily reflect the views or opinions of our organization. We do not endorse or guarantee its accuracy.

News

GVFL’s seed-stage focused Prarambh Fund achieves first close at Rs 100 Crore

Jun 19, 2024 by Mansi Praharaj 0 Comments #GVFL, #Kamal Bansal, #Mihir Joshi, #Prarambh Fund

Ahmedabad, June 19, 2024: GVFL, a leading venture capital firm based in Ahmedabad, has announced the first close of its new Seed Stage fund, Prarambh Fund. The first close has been reached at Rs 100 crore. The total fund corpus is Rs 200 crore. GVFL aims to deploy the funds in 25-30 promising seed startups in the year. The Prarambh Fund will focus on tech start-ups in B2B SaaS, Health-tech, Agritech, Climate Tech, and Deep-Tech with investment in the range of Rs. 1 cr to Rs. 3 cr each.

Mr. Kamal Bansal, Managing Director and Mr. Mihir Joshi, President

GVFL (formerly Gujarat Venture Finance Limited) is an independent, board-managed venture finance company. So far, they have raised nine funds which have supported over 110 companies and have divested from over 75% of portfolio companies providing stellar returns to their investors. Over the last two decades, GVFL has focused on the role of providing venture capital to innovative start-ups. Its experienced team conducts a detailed assessment of market viability and management credentials and provides broad-spectrum support to the funded entities ranging from strategic direction to governance support.

Commenting on the first close, Kamal Bansal, Managing Director, GVFL says, “We are thrilled to announce the first close of Prarambh Fund, which will aim to foster innovation across diverse sectors and create an ecosystem of funding & mentorship for young entrepreneurs. Prarambh Fund will ensure the availability of a seamless funding pathway for startups from seed to growth stages. We believe that providing capital support to pre-revenue and early-stage startups will position GVFL as a comprehensive venture capital firm, capable of supporting companies through all stages of their development.”

GVFL is committed to adding value beyond capital by providing a co-investment platform named a4X.fund (accelerate for excellence). This platform is designed to support seed-stage companies by offering acceleration services and partnerships with mentors, and industry experts to create their growth roadmap.

Mihir Joshi, President, GVFL, adds “GVFL has a strong track record of investing in early-stage companies and has committed investments of over Rs. 150 crore in the last 18 months through its Emerging Enterprise Venture Fund, a Rs. 500 cr Fund. The first close of Prarambh reflects our commitment to nurture startups at the beginning of their life cycle and provide them with the necessary resources to scale to maturity level.”

This announcement marks a significant step for GVFL in its mission to support and grow the startup ecosystem in India. With Prarambh Fund, GVFL aims to work closely with incubators and global accelerators to make a substantial impact on the entrepreneurial landscape, driving innovation and growth for start-ups.