Ahmedabad-based edtech startup, LearnVern, on Monday said it has raised over $1 million in fresh funding from undisclosed international investors.
The year-old startup is an online learning platform providing job-oriented courses in vernacular languages, upskilling students.
According to the company, the funding will be used to upgrade the technology stack of the learning platform, while also creating more courses in different languages, in a bid to engage a higher number of students.
At present, LearnVern claims to have over 5.5 lakh registered students learning from 37 different courses across domains of software development, information technology, graphic design, mechanical engineering, civil engineering, digital marketing among others.
“We are looking to scale and reach out to over 4 Crore students studying in colleges across India. India’s newly launched National Education Policy 2020 talks about Vocational Education and Vernacular as the 2 most important transformational changes, which we had envisioned as the requirement of India’s students and launched our solutions to meet that need,” said Niral Modi, founder and chief executive at Learnvern.
Modi added that the platform will look at new technology enhancements, including video conferencing, peer-reviews and forums to deliver an immersive experience to students on the platform.
The company is also looking to deploy Artificial Intelligence-based tools to ensure students get matched to an employer’s job requirements, after completing their course.
Learnvern is currently working with more than 500 large and medium employers to enable direct recruitment.
Edtech companies raised $2.1 billion in 2020, the highest among all sectors, against $426 million in 2019, according to data from Venture Intelligence.
Further, top Indian edtechs including BYJU’s and Unacademy have taken to consolidate the market even further. Unacademy which surpassed the $1billion valuation, last year, reportedly acquired close to six startups in the test preparation space in 2020 alone. Recently, BYJU’s made one of the most expensive acquisitions in the Indian edtech space, acquiring education institution, Aakash.
The article was first published on livemint.com