India: Edtech startup CareerNinja raises funding from Unitus Ventures

Photo by Thomas Park on Unsplash

Edtech and job tech start-up CareerNinja has raised an undisclosed amount in its pre-seed funding from Unitus Ventures.

Founded by Shronit Ladhani in 2017, AI-powered CareerNinja offers education to learners, industry mentorship and connects them with possible employers. The funding will be used to expand product portfolio, team and technology adoption, the organisations said in a joint statement.

“Business needs are changing rapidly and hiring needs are constantly evolving to keep up. The roots of underemployment in our country are deep. One way to address this is to make up-skilling affordable and outcome-focused for millions in India’s workforce. CareerNinja aligns with our outlook and investment thesis to create meaningful solutions to address this problem at scale,” said Surya Mantha, senior partner at Unitus Ventures.

“43% of businesses surveys indicate that they are set to reduce their workforce due to technology integration, 41% plan to expand their use of contractors for task-specialized work, and 34% plan to expand their workforce due to technology integration. We aim to touch over a million learners by 2022. The funding secured will help us to advance the product, team and technology to achieve this goal,” said Ladhani.

Edtech and job tech has seen a massive acceptance and adoption in the past few years and more so after the pandemic disrupted the education sector and companies adopted technology to optimize employee productivity, hiring and remote working options.

Several edtech firms in upskilling and online higher education space have raised funds in recent months. While upGrad raised $120 million from Temasek, a global investment company headquartered in Singapore in April, global PE giant Blackstone invested $250 million in online higher education firm Simplilearn on 19 July to take over 60% stake in the Bangalore headquartered firm.

The article was first published on livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.