Edtech startup Guvi raises $1.9 million in funding from Vama Sundari Investments
- ByStartupStory | September 28, 2022
Edtech startup Guvi has raised Rs 15 crore or $1.9 million from Vama Sundari Investments. Vama Sundari Investments is a promoter of HCL Technologies, which recently rebranded itself as HCLTech. The fresh fund has flown into the company after a gap of two and a half years. The startup which is scooped up Rs 6 crore in its pre-series A round from Education Catalyst Fund, an education-focused venture capital fund managed by CBA Capital.
The board at Guvi has passed a special resolution to issue 1,878 equity shares at an issue price of Rs 79,906 per share to raise Rs 15 crore or $1.9 million from Vama Sundari Investments. Guvi said in the filing that the fresh proceeds will be used for general corporate purposes and to meet capital expenditure. As per Fintrackr’s estimates, the company has been valued at around Rs 134 crore ($17 million) post allotment. The company also raised funds from US-based investor Gray Matters Capital in April 2019.
The company founded by- SP Balamurugan, Arun Prakash and Sri Devi in 2014, and incubated by IIT Madras and CIIE (IIM Ahmedabad) offers technical courses such as Web Development, AI module, SQL, and various other courses created by industry experts in vernacular languages.
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