Creanovation Technologies Pvt. Ltd (CTPL), a pioneering venture backed by GVFL and IPV Ventures specializing in transforming the admissions process for higher education institutions, has recently raised INR 5 crore from growth-stage-focused Physis Capital. This $50 million fund focuses on supporting tech-enabled startups that solve real-world challenges for businesses and consumers in India, aiming for large-scale impact.
Founded by Bikash Sahoo, CTPL features customizable workflows, CRM-driven lead management, and AI-powered decision-making for more efficient admissions. With over a decade of experience, the company has become a trusted partner for more than 250 educational institutions, driving significant growth through a combination of proprietary technology, experienced professionals, and proven process frameworks. Beyond admissions, the platform’s NextGen Academy offers industry-collaborative courses to prepare students for the future job market. It helps educational institutions increase revenue and improve overall efficiency.
Speaking on the fundraising, Founder and CEO of CTPL, Bikash Sahoo, said:
Physis Capital has been an incredible partner in our journey, backing us from the beginning and offering invaluable support through their network and expertise. Investment by Physis reinforces our vision of building a Global Admissions Management Company, enabling educational universities and institutions to grow their businesses and create a next-generation educational environment. With support from Physis Capital, IPV, GVFL, and other investors, we’re set to ramp up our tech capabilities, enhance our offerings, and drive global expansion. We’re gearing up for the next round in 6-9 months with an ARR of INR 50-60 Cr.
The Gurugram-based startup claims to have doubled its revenue year on year for the past three years while remaining profitable. It is set to enter international markets this year. CTPL has raised a total of $4 million in this round in a mix of dilutive and non-dilutive capital.
Ankur Mittal, General Partner, Physis Capital, added:
Physis Capital is committed to identifying and nurturing startups that use technology to address critical challenges and create meaningful impact. Our focus is on ventures contributing to India’s foundational growth, so our first fund is structured as an India growth opportunity fund. We strongly emphasize the company’s fundamentals, including scalability and unit economics, in our investment decisions.
Founded by IPV partners Vinay Bansal, Ankur Mittal, and Mitesh Shah, Physis Capital is a growth-stage fund targeting startups from Pre-Series A to Series B. Physis is a multi-sector fund and plans to build a portfolio of 12-15 startups. The investment per startup will range from $500K to $1.5 million in the first round, with continued support for potential winners in follow-on rounds. As Physis Capital nears its final close, the fund has a mix of retail and institutional investors as LPs, including HNIs, family offices, and corporate offices that have invested in the fund.
Earlier this year, Physis Capital also invested in Ben & Gaws. The fund is known for backing several well-recognized startups, including Bharat Pe, Blusmart, VideoVerse, Milkbasket, Samosa Party, Stage, and Otipy.
