Hyderabad-based NxtWave has raised $33 million in a new financing round led by private equity firm Greater Pacific Capital with participation from existing investor Orios Venture Partners.
The startup plans to use the raised capital for organic and inorganic expansion of business in both domestic and overseas markets. It also plans to invest in product and content, onboard over 10,000 companies to hire its learners and fulfill skilled talent requirements of the industry, undertake acquisitions in the next couple of years and expand to multiple geographies within the country.
Founded by IIT Bombay, IIT Kharagpur and IIIT Hyderabad alumni Sashank Reddy Gujjula, Anupam Pedarla and Rahul Attuluri, NxtWave said it has a unique training module where vernacular, online, asynchronous, cohort-based training is combined with bite-sized and consolidation learning to create transformative learning experiences.
“We are excited to have Greater Pacific Capital (GPC) as a new partner in our journey. Making India a powerhouse of technologies starts with upskilling our youth. Together, we will bring high-quality, employability-focused education to India’s youth and equip them for the jobs of the future at scale,” NxtWave Co-Founder and CEO Rahul Attuluri said.
Source @Indianstartupnews
