MSME edtech startup MSMEx has raised $1M in pre-Series A round. The latest funding round was co-led by Razorpay and TNF Investments.
Speaking on the investment, Amit Kumar, Co-founder and CEO, MSMEx, stated, “Only 0.5 percent of micro-businesses can scale up and graduate to the next level in India, while the comparative figures for China and the USA are at 25 percent and 45 percent, respectively… MSMEx is taking structured business education and advisory services to every corner of India to create future leaders of Indian economy.”
Amit added, “Our investors understand the MSME space well, and we are, therefore, excited to achieve this aligned vision together of impacting 10 million MSMEs in the next five years.”
“We are excited about investing in a team like MSMEx, which has its mission and commitment strike a strong chord with ours — to serve and solve the problems faced by the inadequately serviced market, the small businesses. We look forward to supporting MSMEx’s continued growth and innovation in this under-serviced space,” said Shashank Kumar, CTO and Co-founder, Razorpay.
Samir Khosla, Managing Partner at TNF Investments, said, “ MSMEx’s unique positioning addresses the core challenges faced by the entrepreneurs leading these enterprises – access to high-quality business advice, focused mentorship, actionable business education — all within a tight budget and available on-demand. We envision MSMEx evolving into an integral and indispensable part of tens of millions of entrepreneurial journeys in India and internationally.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.