Indian education portal StudyPlaces Inc has secured its first round of institutional funding of $3 million from Silicon Valley venture capital firm Kleiner Perkins, Caufield & Byers, Ram Shriram’s Sherpalo Ventures and Info Edge Ltd, the owners of jobs portal Naukri.com. The three investors have committed $1 million each into the company. Info Edge last month announced that it had invested $500K in StudyPlaces, which is half of its committed capital.
StudyPlaces, based in the US and in Gurgaon, India, was founded last year by Amitabh Nagpal. He was one of the co-founders of Cymbal Corporation, which was sold in 2004 to Patni Computers for $68 million. StudyPlaces has received angel investment from Nikesh Arora, President of Google Europe, and Sanjiv Ahuja, the chairman of European telecom operator Orange.
StudyPlaces hopes to “bridge the gap between education sources and the student seeking information”. It does not provide online education (as Tutorvista does), but helps a student find such courses and educational information across the world. It has tie ups with several international universities and has counselors on board to help students decide right courses and educational institutes. It hopes to make money through lead generation.

Posted on 01/7/08, 3:53 PM
in: Deals, Venture Capital
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