edu-fintech business EduFund, based in India, has raised $3.5 million in an investment round that was spearheaded by international venture capital firm MassMutual Ventures (MMV). Investors DSP Investment Managers, Anchorage Capital Partners, and Kunal Shah also took part in the fundraising.

"Our goal at EduFund has always been to help parents start saving early and to provide solutions that will financially enable the aspirations they have for their children," said co-founders Eela Dubey and Arindam Sengupta in a statement. With this additional money, we intend to grow more quickly, develop fresh ideas, and make technology investments.

EduFund, a 2020 startup, claims to provide a full-stack solution aimed at assisting Indian parents in making plans, setting aside money, and making investments for their children's education. The company argues that it enables parents to plan ahead and invest across different asset classes to meet these escalating expenses over time, with domestic education inflation hovering between 8-10% and over 4% in countries with large enrolment of Indian kids. By offering college loans and scholarships, it also assists parents in meeting their financial demands. On its platform, EduFund has 70,000 effectively involved parents.

"The company presents a compelling investment opportunity because of the founders' skill in asset management and thorough awareness of the market, as well as the value of education in Indian culture. Anvesh Ramineni, managing partner at MMV, said: "We are thrilled to join with EduFund in their objective to make higher education accessible to all.

Returns (compounding) are a function of time. Only early investors have the luxury of time, according to Kalpen Parekh, managing director and CEO of DSP Mutual Fund. Additionally, he said, "this investment in EduFund is our way of encouraging two important objectives: real compounding and creating a corpus for our children's education."