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ProEdge Skill Development and Edutech, a Bengaluru-based skill development start-up, has raised an undisclosed sum in Series A funding from an investment company backed by high-networth individual investors based in the US and the UAE. The company will use the proceeds to increase its workforce, set up a software platform and increase its affiliated colleges to 250.
ProEdge offers skill development and digital learning and is affiliated with about 150 colleges across the country. It offers courses tailor-made to specific corporate requirements and generic courses, which equip students to become more employable. "BFSI space in India has an ever-growing need to hire skilled manpower to serve a large pool of retail as well as business loan customers. To keep a check on escalating employee costs and to tackle the problem of attrition, there is an increasing need to hire freshers if they are adequately skilled," said Vamsi Akella, co-founder, ProEdge.
At present, ProEdge works on training and talent management with more than 30 large corporate entities in the BFSI, analytics and IT sectors. It has also gained significant traction in corporate learning and development in the BFSI sector. The investors are based out of Dubai, Chicago and New York.
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