“We now have already supplied a mandate to our monetary advisors from KPMG. They are going to be taking a look at what our wants are and the way we will align them,” Abhijit Zaveri, founder and managing director of Profession Mosaic, instructed The PIE Information of the corporate’s funding plans.
The company, which is run by the husband-wife duo Abhijit and Manisha Zaveri, is aiming to make use of its first spherical of funding on acquisitions, expansions and tech, capitalising on an ever-growing Indian research overseas market.
“The funds shall be used for Profession Mosaic’s major progress. We now have already recognized a number of the firms we’d like to amass, and are additionally wanting to make use of the funds in tech as properly. A few of it would additionally go in direction of geographical enlargement within the Center East, North Africa, Central and Southeast Asia, the place we want to rent gross sales personnel. The first funds shall be utilized in firm and progress capital,” mentioned Zaveri.
“India is an important market. However we additionally wish to diversify our gross sales in Vietnam, Indonesia, and extra. Our contracts with US accomplice universities are world, so we will recruit college students from, for instance, Fiji to Ghana, and we wish to utilise that chance.”
With over two million college students anticipated to review overseas by 2025, it’s no shock that India’s abroad increased training expenditure reached a whopping $60 billion in 2023 in comparison with $47b in 2022.
“The research overseas market in India has actually modified within the final 4 to 5 years. Numerous giant firms like ours have been earlier referred to as grasp brokers, due to the B2B mannequin, however now we’re referred to as tech-enabled grasp brokers – particularly post-pandemic. Publish-Covid, numerous universities got here on the platform, and there was non-public fairness coming into some firms within the spectrum,” said Zaveri.
In keeping with Zaveri, Profession Mosaic has additionally seen near 80% progress since 2023, with its gross sales now nearly double what they have been final yr.
“We closed 2023 at gross sales value INR 85 crores (£7.9m) and this yr we shall be closing at 135 crores (£12.6m). We’re nonetheless fairly a lean organisation when it comes to our staff dimension,” added Zaveri.
India is an important market. However we additionally wish to diversify our gross sales in Vietnam, Indonesia, and extra
Abhijit Zaveri, Profession Mosaic
A business-to-business firm, Profession Mosaic has partnerships with world universities, with brokers additional utilizing their companies to enrol college students.
A significant chunk of those universities hails from the US, with the agency asserting strategic partnerships with 10 American universities to ascertain groups in India for in-country illustration and operations again in February 2024.
“I imagine the US continues to be an excellent vacation spot for college students, particularly for those who wish to pursue tech, IT, and STEM basically. Additionally, submit the election, if Trump’s assertion about faculty graduates receiving inexperienced playing cards does come into play, will probably be a goldmine for college students,” mentioned Zaveri.
“The Biden authorities has additionally achieved an excellent job. India can also be anticipating two extra US Consulates in Bangalore and Ahmedabad. It’s all the time a cycle – each three or 4 years issues go down and it picks again up. So although we’d have a flattish 2024, 2025 Fall must be actually good for US-bound college students.”
Profession Mosaic has additionally arrange an workplace in Gujarat Worldwide Finance Tec-Metropolis, one in all India’s latest central enterprise districts, as extra worldwide universities arrange campuses within the area.
“We’re the primary research overseas firm to arrange an workplace in GIFT. We’re positioned proper beneath the Australian Deakin College campus. Some US universities have additionally proven curiosity in opening small campuses in India. GIFT has the potential to be a worldwide training centre within the coming years,” predicted Zaveri.
