Techmaghi Secures Rs 20 Lakh Funding from LJ Knowledge Foundation

• ByStartupStory     |    October 30, 2023

Education technology firm Techmaghi has secured a funding of Rs 20 lakh from the startup-supporting LJ Knowledge Foundation. This funding will further advance the mission of the Kerala-based company to bridge the gap between industries and educational institutions by offering up-skilling courses that align with the needs of the modern workforce, as per a statement released on Saturday.

Techmaghi, established in 2021, emphasizes a partnership with Ahmedabad-based LJKF to accelerate its expansion efforts, targeting a broader audience of students and professionals. The collaboration is expected to play a pivotal role in this pursuit.

Deepak Rajan, the Founder and CEO of Techmaghi, expressed that this funding will enable the company to make a more substantial impact in the realm of cutting-edge education and skill development.

Notably, the funding from the Gujarat NGO is in the form of a Compulsorily Convertible Debenture (CCD) for Techmaghi, which operates from the Maker Village at KINFRA Hightech Park in Kalamassery, situated approximately 20 kilometers north of the city.

Since its inception in 2021 with a modest team of 30 members, Techmaghi has risen to become a prominent education provider. The company has successfully trained over 75,000 students and generated revenue exceeding Rs 2 crore. Techmaghi primarily focuses on core engineering fields, equipping individuals with the skills and knowledge needed to excel in the competitive job market.

Deepak Rajan credited much of their success to the support of KSUM, the Kerala government’s nodal agency established in 2006 for entrepreneurship development and incubation activities in the state. This partnership has been instrumental in Techmaghi’s journey of growth and impact in the education sector.

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