Ed-tech company, NxtWave, has raised $33 million in its latest fundraising round, led by Greater Pacific Capital (GPC), an international private equity firm. NxtWave’s existing venture investor, Orios Venture Partners, also participated in the current round.
NxtWave offers vernacular, asynchronous, and online cohort-based training programs in Industry 4.0 Tech career tracks for college students, graduates, and early professionals. Founded by Sashank Reddy Gujjula, Anupam Pedarla, and Rahul Attuluri, NxtWave aims to build India’s largest online employability platform for tech careers without the need for a conventional college degree.
Rahul Attuluri, Co-Founder and CEO, NxtWave said, “We’re excited to have GPC as a new partner in our journey. Making India a powerhouse of technologies starts with upskilling our youth. Together, we’ll bring high-quality, employability-focused education to India’s youth and equip them for the jobs of the future at scale. With NEP 2020, the Indian Government has created a highly supportive environment for skill-based learning. This decade belongs to India.”
In the last couple of years, over 1250 companies, from fast-growing startups to Fortune 500 giants, have hired thousands of NxtWave learners, said the company.
Ketan Patel, Founder and CEO of GPC, said, “India needs to build the capacity to provide quality learning, particularly in artificial intelligence, for 500 million young Indians. Leveraging technology to fill this gap is the key to unlocking India’s economic potential and providing quality employment to its youth, which NxtWave is doing. We are excited to partner with NxtWave to rapidly scale its platform.” Nandan Desai, MD and Co-Head of India for GPC, will join NxtWave’s Board as part of the transaction.
Avendus Capital acted as the exclusive financial advisor to NxtWave on the transaction. Shardul Amarchand Mangaldas & Co. and Cyril Amarchand Mangaldas acted as legal counsel to NxtWave and GPC, respectively.