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Placement-focused startup NPrep raises pre-seed round led by All In Capital

EntrackrEntrackr · 21d ago
Placement-focused startup NPrep raises pre-seed round led by All In Capital
Medial

Placement-focused startup NPrep raises pre-seed round led by All In Capital NPrep, a placement-focused company which is building an AI-powered skilling platform for nursing students and professionals, has raised an undisclosed amount in a pre-seed funding round led by All In Capital along with participation from IIMA Ventures, Chegg’s founder Aayush Phumbhra, and several family offices and angel investors. The proceeds will be utilized to expand its course offerings, strengthen and build AI-driven learning platforms, and deepen its placement partnerships with hospitals and healthcare institutions across India, NPrep said in a press release. Co-founded in 2024 by Prince Kaushik, Utkarsh Paliwal, Gourav, and Shrey Gupta, the startup aims to address the barriers of students from tier II and tier III cities by offering an AI-powered skilling and placement platform tailored to the specific needs of nursing students and professionals. According to NPrep, it will also support students through mock interviews, resume building, and automated assessment tools that help improve their job readiness. The platform claims to have more than 2 million learners every month and growing its user base to 40,000 students in the last six months alone. The company plans to expand its placement services domestically in FY26 and internationally by FY27, building on its foundation of medical and technological expertise.

Edtech start-up MyCaptain raises ₹14 cr from Inflection Point Ventures, MyNavi, Piper Serica, Super Capital, Ankur Capital

ThehindubusinesslineThehindubusinessline · 1y ago
Edtech start-up MyCaptain raises ₹14 cr from Inflection Point Ventures, MyNavi, Piper Serica, Super Capital, Ankur Capital
Medial

Indian edtech start-up MyCaptain has raised ₹14 crore ($1.9 million) in a recent funding round led by investors including Inflection Point Ventures, MyNavi, Piper Serica, Super Capital, and Ankur Capital. MyCaptain plans to use the funding to expand its hybrid programmes into more cities, establish regional sales centres, and introduce new courses. The company aims to reach a portfolio milestone of 50 beginner courses and five placement readiness programmes. It has already partnered with over 1,000 employers and secured placements for 1,300 learners in fields such as content writing, digital marketing, and UI/UX design.

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%

EntrackrEntrackr · 4m ago
Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%
Medial

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83% Global edtech company Eruditus recorded modest year-on-year growth in its operating revenue, crossing the Rs 3,700 crore ($448 million) mark in the fiscal year ending June 2024. The Mumbai-based firm narrowed its losses by over 83% during the same period. Compared to FY23, the firm’s operating scale grew by 12% to Rs 3,733 crore, according to its annual financial statement sourced from Singapore. Eruditus follows a financial year that runs from July to June. The firm appears to be ahead of the leading edtechs, with revenue nearly 1.8 times that of PhysicsWallah and more than double that of upGrad. PhysicsWallah reported Rs 2,015 crore revenue in FY24 whereas upGrad registered Rs 1,487 crore revenue in the same period. Eruditus offers education across more than 80 countries to over a million learners. It partners with over 80 universities across the United States, Europe, Latin America, Southeast Asia, India, and China. The firm didn’t offer revenue break-up across geographies. The company deferred recognition of Rs 800 crore ($96 million) in collected revenue to the last fiscal year (FY25). Eruditus made progress in controlling its expenses as its marketing expenses dipped 18.85% year-on-year to Rs 1,007 crore in FY24 from Rs 1,241 crore in FY23. Other operating expenses were down by 32.16% year-on-year to Rs 1,045 crore in FY24 from Rs 1,541 crore in FY23. The cost optimizations led to a sharp improvement in the company’s bottom line. Eruditus narrowed its adjusted EBITDA losses by 83.45% to Rs 69 crore ($8.3 million) in FY24 from Rs 417 crore ($50 million) in FY23. With backing from investors such as TPG, the Chan Zuckerberg Initiative, SoftBank Vision Fund 2, Prosus Ventures, Accel, and Peak XV, Eruditus has the capital reserve to expand its presence and offerings across markets. In October 2024, it raised $150 million in the second-largest edtech deal of the year, after PhysicsWallah’s $210 million funding. With revenue approaching $500 million and an 83% reduction in losses, the company shows a path toward sustainable growth in the edtech industry. Heading into FY25 with deferred revenue, Eruditus is on track to achieve profitability while building on its revenue base.

Exclusive: upGrad raises $35 Mn debt from EvolutionX

EntrackrEntrackr · 1y ago
Exclusive: upGrad raises $35 Mn debt from EvolutionX
Medial

Edtech unicorn upGrad has raised Rs 287.5 crore (approximately $35 million) from EvolutionX. This is the first debt funding for the Mumbai-based company this year. The board at upGrad has passed a special resolution to issue 28,75,000 debentures at an issue price of Rs 1,000 each to raise Rs 287.5 crore or $35 million, its regulatory filing accessed from the Registrar of Companies shows. The company will use these funds for growth, operating expenses, and general corporate purposes, according to the filings. upGrad has raised over $650 million to date including $36.5 million via right issue from Teamsek, founder Ronnie Screwala, and other in March last year. The Temasek-backed company was reportedly in talks to raise $100 million to close the acquisition of online education firm Udacity. According to the startup data intelligence platform TheKredible, Temasek is the largest external stakeholder with 20.7% while Upgrad’s co-founder and chairperson Ronnie Screwvala holds a major 22.4% of the company. upGrad forayed into the offline higher education space in 2022 and invested $30 million to set up ten global campuses across India, the US, and other regions. upGrad experienced notable growth as its operational revenue increased by 72% to Rs 1,194 crore in FY23, up from Rs 692 crore in FY22. However, alongside this growth, the company’s losses also rose by 82% to Rs 1,114 crore in FY23. The company is yet to file its annual results for FY24.

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