EdTech startup NxtWave raises $2.8 m in Pre-Series A
- ByStartupStory | December 2, 2021
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.
To utilize the proceeds to expand the team, accelerate product development, and penetrate further in the existing markets.
“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 company claims to have an active student community of more than 200,000 members from over 3,000 colleges. Its paying customers come from more than 250+ districts of India, with more than 85% in non-metro and rural areas. In the last six months, 250+ companies have hired NxtWave graduates including the likes of Google and Reliance Jio, according to the company statement.
“NxtWave’s vernacular and semi-synchronous format…plugs a massive gap for students and early professionals…,” said Vaibhav Domkundwar of Better Capital, which recently raised $15.28 million for its maiden fund. “It creates an on-ramp for them into the fast-growing tech ecosystem—and in a way that was never done before.”
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