GUVI, an edtech startup incubated by IIT Madras and CIIE.CO-IIM Ahmedabad, Saturday said it has raised about $787,686 (Rs 6 crore) in its pre-Series A funding round from Education Catalyst Fund, an education-focused venture capital fund managed by CBA Capital.
Founded by SP Balamurugan, Arun Prakash and Sri Devi in 2014, GUVI is an integrated ed-tech platform that provides course contents in vernacular languages such as Tamil, Telugu, Kannada, Hindi, and Bengali besides English. The platform claims to have a presence in over 1,000 engineering colleges.
“We will use the capital raised in this round to scale up operations, introduce newer courses in more vernacular languages and expand our geographical presence for our blended (offline + online) learning program ‘Zen class’. During the lockdown, we are experiencing a huge surge in the number of people signing up to our online courses and we expect this trend to continue even after it,” GUVI CEO Balamurugan said.
During this current lockdown, GUVI said it has attracted over 1.5 lakh enrolments in technical courses in a period of 12 days adding that not only students but working professionals are also enrolling for their tech courses.
The startup further claimed to have upskilled more than 2.14 lakh engineers in the latest technology skills such as Python, Java, and Machine Learning, among others and has helped them gain placement in IT firms.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from April 23-26, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Guvi Geek Network Pvt. Ltd||Chennai||787686||Pre-Series A||Education Catalyst Fund||-||EdTech|
|Vedantu||Bengaluru||7 million||Series C||KB Global||-||EdTech|
|DMI Group||New Delhi||123 million (reported)||Equity||Nexon Co||-||Financial Services|
|B9 Beverages Pvt. Ltd (Bira 91)||New Delhi||30 million||-||Sequoia India, Sofina||Sixth Sense Ventures, Neoplux||Food & Beverages|
|Drink Prime||Bengaluru||478,200||Seed||Kunal Bahl, Rohit Bansal, Bharath Jaisinghani, Ankit Agarwal||-||Consumer Product|
|Spintly||Goa||250,000||Pre-Series A||Saltwater Venture Sparks||-||Internet|
|Finaureus Technologies||Pune||-||Pre-Series A||Pinetree Capital||-||FinTech|