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EdTech startup NxtWave has raised $2.8 million in a Pre-Series A funding round led by Orios Venture Partners and Better Capital. The one-year-old startup is bootstrapped, cash-flow positive, with an annual run rate (ARR) of $7.5 million.
“We will use the proceeds to expand the team, accelerate product development and penetrate further in the existing markets,” a statement said.
“We believe that the digital pedagogy must be radically different for small towns to create transformative learning experiences. To achieve this, we have adopted a multi-pronged approach, leveraging technology, pedagogy and vernacular content,” Rahul Attuluri, Chief Executive Officer of NxtWave, said.
The current funding round also saw participation from Ravi Bhushan (Founder, BrightChamps), Ramakant Sharma (Founder, LivSpace) and Vikram Kailas (Co-Founder, Mytrah Energy).
The Hyderabad-based startup was founded by Sashank Reddy Gujjula, Anupam Pedarla and Rahul Attuluri.
“NxtWave aims to build an online university for 4.0 tech careers without the need for a conventional college degree,” it said.
The startup offers vernacular, asynchronous and online cohort-based training programmes in Industry 4.0 Tech career tracks for college students, graduates and early professionals.
It has a base of over two lakh students from over 3,000 colleges and has paid customers from over 250 districts.
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