Edtech platform NxtWave raises $33 million in Series A funding

• ByStartupStory     |    February 21, 2023

NxtWave, an upskilling platform based in Hyderabad, has secured $33 million in a Series A funding round led by international private equity firm Greater Pacific Capital (GPC). The round also saw participation from existing investor Orios Venture Partners.

NxtWave has raised a total of $35.8 million in funding, including the recent $33 million Series A funding round led by Greater Pacific Capital and participated by Orios Venture Partners. The upskilling platform had previously raised $2.8 million in pre-Series A funding in December 2021, which was led by Orios Venture Partners and Better Capital. This marks the second funding round for the Hyderabad-based edtech startup.

With the $33 million Series A funding, NxtWave intends to invest in enhancing its product and content to provide an improved learning experience for users. The Hyderabad-based upskilling platform also plans to onboard over 10,000 companies to hire its learners, addressing the skilled talent needs of the industry. Additionally, the company is eyeing acquisitions in the next few years and aims to expand its reach to multiple geographies across India.

NxtWave was founded by Sashank Reddy Gujjula, Anupam Pedarla, and Rahul Attuluri, who are alumni of IIT Bombay, IIT Kharagpur, and IIIT Hyderabad. The Hyderabad-based upskilling platform aims to create an online employability platform for new-age technology careers.

According to NxtWave Co-founder and CEO Rahul Attuluri, the goal is to equip India’s youth for future jobs by providing high-quality, employability-focused education at scale. “We are committed to upskilling India’s youth and making the country a technology powerhouse,” he added.

Rahul Attuluri, the CEO and Co-founder of NxtWave, expressed optimism about the company’s mission of upskilling India’s youth, particularly with the Indian government’s supportive environment for skill-based learning under NEP 2020. He believes that this decade will be India’s.

According to the Hyderabad-based upskilling platform, it has helped thousands of learners secure jobs from over 1,250 companies, ranging from fast-growing startups to Fortune 500 corporations. As part of the Series A funding, NxtWave has appointed Nandan Desai, the MD and Co-Head of India at GPC, to its board.

Avendus Capital served as NxtWave’s sole financial advisor in the Series A funding round, while Shardul Amarchand Mangaldas & Co. and Cyril Amarchand Mangaldas provided legal counsel to NxtWave and GPC, respectively.

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