CTPL Secures $4 Million in Series A Funding to Revolutionize University Admissions

Admission management company CTPL has raised $4 million in Series A funding. Led by Gujarat Ventures Private Limited and co-invested by Physis Capital and others, the funding will help CTPL expand its technology-driven admission solutions and pursue global growth, reflecting strong investor confidence and sector-wide demand.

Admission management company CTPL announced on Sunday it has successfully raised USD four million (approximately Rs 33 crore) in a Series A funding round. This capital influx highlights investors' confidence in CTPL's growth potential, attributed to the company's technological and marketing innovations in university admissions, according to a company statement.

The funding round was spearheaded by Gujarat Ventures Private Limited (GVFL) and included significant investments from Physis Capital, UCIC, Recur, and other investors. GVFL MD Kamal Bansal emphasized the transformative role of technology in the education sector, stating, ''GVFL is pleased to lead the investment in a company at the forefront of educational innovation.''

Ankur Mittal, Partner at Physis Capital, highlighted CTPL's impressive revenue growth and profitability over the past three years, noting that the new funding will support the company's plans for expanding its offerings and entering global markets. CTPL founder and CEO Bikash Sahoo echoed this sentiment, expressing eagerness to empower more universities with enhanced admission processes.

With its revenue doubling in FY24, CTPL is poised for another 100% growth in FY25, signaling robust market demand for its solutions.

(With inputs from agencies.)