ImaginXP, a Pune-based edtech startup, has raised $1.5 million in a pre-Series A funding round led by Venture Catalysts along with participation of angel investors Shashank Deshpande, Krish Kupatjil, Samyakth Capital and others.
The company will utilise the funds to accelerate both offline and online degree programmes.
Started in 2013 by Shishir Kumar and Shashank Shwet, ImaginXP is a “virtual university platform” that helps universities provide degree programmes and certification courses. The company provides B.Des (Bachelor of Design), M.Des (Master of Design), BBA, MBA, BSc and BTech degrees, in partnership with universities.
“The impressive hold over the higher education market led us to partner with the team,” Anuj Golecha, co-founder at Venture Catalysts, said in a statement. “The MyCoach platform with such a huge captive TAM [total addressable market] and online degrees has digitally accelerated the company to three times growth trajectory over the last two years.”
ImaginXP’s ‘MyCoach’ platform connects companies and startups to students for live projects, internships and shadow learning. The company claims to have 2,500 students studying in full-time degree programmes and 15,000+ students on the MyCoach platform.
“ImaginXP is partnering with universities to give them access to a world-class curriculum with an industry-partnered delivery model.” said Shishir Kumar, director general at ImaginXP. “We aim at making our partners feature in the top 500 universities of the world…Our test of time was during the pandemic when the traditional university model got disrupted. We quickly scaled up our digital platform MyCoach to provide for-credit courses to the universities and engage the students on their behalf.”
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