GrowthX (GrowthX.club), a social learning community, announced that 212 angel investors contributed to its seed round.
This historic community-led fundraising in the Indian startup ecosystem saw participation from 200+ founders, leaders and operators across companies like Razorpay, Airbnb, Mamaearth, Meesho, Myntra, and Freshworks. Out of the 1.5 Million USD raised, incredibly, 65% of the funds were raised from GrowthX’s own community members. The round was led by Better Capital as the single largest entity, the statement said.
Before GrowthX became a business in April 2020, it was a community that helped founders and operators accelerate their careers. Unlike most Edtechs which are focused on getting your first job, GrowthX helps its members navigate the complicated path from operator to manager to leader, according to the statement.
Commenting on the fundraise, Udayan Walvekar, CEO & Co-Founder of GrowthX said, “We are humbled by the fact that the majority of our fund was raised from GrowthX’s own community. This is a true testament to the trust and value we have been able to create for founders and operators. As we continue to expand, we hope to fundamentally change the way operators and founders think about growth.”
Abhishek Patil, co-founder of GrowthX said, “Moonshots or shortcuts to growth are a myth and in fact, self-destructive. Growth is a mindset and is meant to be sustainable; in the short and mid-term, we are looking to change the way top operators & founders develop a mindset that will significantly impact the way people are hired and promoted.”
On why he decided to invest in GrowthX, Harshil Mathur, CEO at Razorpay& Partner at MarsShot said, “Product and growth problems require a structured approach and professionals with this skill are incredibly difficult to come by at the moment. GrowthX is doing a great job at filling this gap by building a phenomenal community of talent with the ability to solve any growth problem.I believe the founders are doing a great job building the next generation of top growth professionals.’’
Vaibhav Domkundwar, CEO at Better Capital said, “GrowthX is productizing the most important aspect of building and scaling a company – that of product & growth and we are excited to be founding stage partners to Udayan& Abhishek. We believe GrowthX has the potential to power the fastest growing companies in India & globally based on our first hand experience with our portfolio founders.”
The fund infusion and active support of the angels will be used for pedagogical and experiential innovations for the members. The new funds will accelerate GrowthX’s ability to enable more life-changing outcomes to its members, the statement said.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.