Guvi, a vernacular-language based Edtech startup owned by Guvi Geek Network Private Limited, announced that it has raised Rs 6 crore pre-series A funding from Education Catalyst Fund, an education-focused venture capital fund managed by CBA Capital. Earlier, the company had raised funds from US-based investor Gray Matters Capital.
SP Balamurugan, the CEO at Guvi said that the company aims to use capital raised in this round to scale up its operations, introduce newer courses and expand its geographical presence for its blended (offline+online) courses.
During the lockdown, Guvi claims it is experiencing a huge surge in the number of people visiting and signing up to their online courses. Not only students, but working professionals also enrolled for the company’s tech courses, it added. Ever since the COVID-19 pandemic, there have been more than 150,000 course enrollments within a period of 12 days, according to the firm.
Bhavesh Hemani of CBA Capital said, “The business model of Guvi is the 21st-century skilling solution that the country needs right now. It offers the perfect blend of online and offline courses with rising demand and early success evidenced by high rates of employment for students.”
Guvi was founded in 2014 by SP Balamurugan, Arun Prakash and Sri Devi. GUVI (Grab Your Vernacular Imprint) Geek Network Private Limited is an Online Learning Platform incubated by IITM and IIM-A, supported by Google Launchpad & Jio Gennext.
IC Universal Legal acted for CBA Capital and HS Law & Associates represented Guvi for this transaction.
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