IIT Madras-incubated ed-tech startup GUVI raises Rs 6 crore in pre-series A funding

CHENNAI: GUVI, a startup incubated by IIT Madras and CIIE.CO-IIM Ahmedabad, has raised Rs 6 crore in its pre-series A round of funding from Education Catalyst Fund, an education-focused venture capital fund managed by CBA Capital.

An integrated ed-tech platform providing course contents in vernacular languages as well, GUVI has its presence in over 1,000 engineering colleges in the country.

“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’ (www.guvi.io/zen). During the lockdown, we are experiencing a huge surge in the number of people signing up for our online courses and we expect this trend to continue even after it,” said SP Balamurugan, Chief Executive Officer at GUVI said.

During this current lockdown, GUVI attracted over 1.5 lakh enrolments in technical courses in a period of 12 days. Owing to the lockdown, it was not just students but working professionals too who enrolled for their tech courses, a statement from the company said on Saturday.

The startup has 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. GUVI was founded by SP Balamurugan, Arun Prakash and Sri Devi and offers technical courses created by industry experts in vernacular languages.

“The business model of GUVI is the 21st-century skilling solution that the country needs right now. GUVI offers the perfect blend of online and offline courses with rising demand and early success evidenced by the high rate of employment for students,” Bhavesh Hemani of CBA Capital, said.

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