AltUni Raises $500K Led by Indian Angel Network to Revolutionize Online Learning

• ByStartupStory     |    September 26, 2023

AltUni, the alternative digital university by InsideIIM, has successfully raised $500,000 in funding in a round led by the Indian Angel Network. Several angel investors who participated in the previous round also increased their stakes in the venture. Notable participants in this funding round include Vishesh C Chandiok, CEO of Grant Thornton Bharat LLP, Ganesh Balakrishnan, Harsh Parikh, Narayan Babu, Supreet Singh, Ashvin George, Prashant Mohanraj, Shreyans Mehta, Amit Monteiro, Raghav Joshi, Mainak Shome, Bhoopesh Jain, Sandeep Bhadresa, and others.

AltUni, founded in 2020 by Ankit Doshi, offers an innovative approach to online learning. Unlike traditional remote learning programs, AltUni provides short, immersive online learning modules that focus on skill-building rather than offering degrees or certifications. The platform connects learners with business leaders and offers opportunities to interview with top Indian corporations. Each program includes a live industrial project and personalized counseling to help early career professionals and college students acquire the skills needed to succeed in the job market.

With this new funding, AltUni plans to expand its online platforms, including insideiim.com, insidekampus.com, and AltUni.in. AltUni has a strong focus on community engagement and aims to prepare India’s youth for the workforce. Notably, the company stands out in the Indian startup landscape for having over 50% female employees.

Founder of AltUni by InsideIIM, Ankit Doshi, emphasized the company’s mission to enhance India’s human capital. He stated, “A college education is not sufficient to be employable when Artificial intelligence threatens the existence of many jobs. AltUni helps early career professionals and college students gain skills to future-proof their careers for the next decade.”

AltUni’s unique approach to online learning has already garnered significant success. The company claims over 4,000 alumni in just 36 months, all equipped with the skills needed to excel in the digital business landscape. AltUni is operationally profitable with an annual recurring revenue (ARR) of INR 12 Crores. This funding round marks AltUni’s second successful raise following its previous round in February 2022. The startup has raised a total of $1 million to date.

Padmaja Ruparel, Co-founder of Indian Angel Network (IAN), expressed support for AltUni’s mission, stating, “IAN welcomes AltUni, its newest portfolio company. An incredible journey, Ankit Doshi and Mihir Mehta, to make higher quality education available globally. This investment validates our mission and fuels our commitment to producing quality education available to learners globally. AltUni’s dedication to addressing the challenges in the higher education sector aligns with our mission to support innovative solutions. We are confident that this investment will help AltUni further its mission and positively change the education landscape.”

AltUni attributes its rapid growth to the InsideIIM.com community, India’s leading MBA platform with over 400K unique users monthly and around five million individual users annually. The platform’s YouTube channel alone garners over 10 million views every year, serving as a key pillar in AltUni’s acquisition strategy.

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