According to a statement released on Thursday, Growth School, a community live learning platform, has raised $5 million (around Rs 37.5 crore) in a venture fundraising round headed by Sequoia Capital India and Owl Ventures.
More than 80 angel investors including Kunal Shah of Cred, Nikhil Kamath of Zerodha, Ritesh Agarwal of Oravel Stays Ltd, and Tanmay Bhat, also participated in the funding round, the statement said. Global angel investors including Austen Allred of Lamda School, Shaan Puri, and Eric Siu also contributed to the investment round, it added.
According to the organisation, Growth School intends to use the funding to expand its workforce and develop a technology platform. The company also intends to expand into new markets and investigate the use of the metaverse in education, the statement said.
Sisinty Pvt Ltd’s Growth School provides programmes relevant to users’ job profiles by working with individuals who are influencers in their professions, according to the firm. The programmes will last four to twelve weeks, according to the company. Sisinty Pvt Ltd is a subsidiary of Sisinty Singapore Pvt Ltd, which is situated in Singapore.
“We aim to be the go-to platform for learners all over the world to acquire skills from the top 1% of industry experts,” added Sisinty.
Growth School began as a six-person team in the year 2020. Growth School’s Founder, Vaibhav Sisinty, explained that the company was founded with the goal of assisting people in receiving the greatest skill upgradation from industry experts in the least amount of time. Till date, 2 lakh users have accessed the company’s programmes, as per the corporation. The portal claims to offer classes on freelancing, making and distributing non-fungible tokens (NFTs), investing in cryptocurrencies, and starting a direct-to-consumer (D2C) business, among other things.
Growth School stated that it now intends to broaden its programme offerings. The company also wants to expand its presence outside of India, as it feels most of these programmes have a universal attraction and relevance.
Since the coronavirus outbreak in 2020, the larger education space in India has drawn significant investor interest at various phases. LEAD, a school edtech platform, raised $100 million in a Series E fundraising round headed by WestBridge Capital and GSV Ventures earlier this month. LEAD became India’s sixth edtech unicorn, or a private business valued at over $1 billion, as a result of this fundraising round.