Edutech startup byteXL raises seed fund in Angel round
Hyderabad: US-based byteXL, an experiential learning platform for IT career aspirants with its India headquarters in Hyderabad, raised a seed fund of $200,000 (over Rs 1.48 crore) in Angel round. The funding has been raised from Joseph Joy, president of Joy Family Investments from the USA along with others. The funding will help byteXL with […]
Hyderabad: US-based byteXL, an experiential learning platform for IT career aspirants with its India headquarters in Hyderabad, raised a seed fund of $200,000 (over Rs 1.48 crore) in Angel round. The funding has been raised from Joseph Joy, president of Joy Family Investments from the USA along with others.
The funding will help byteXL with an ambition to drive eLearning platform updates, content enhancements, sales team and marketing, product portfolio as well as the geographical and segment reach.
byteXL is an upskilling ed-tech platform that helps learners attain new skills and upgrade the existing ones. Over 42,000 students from over 55 colleges are active on the platform with an engagement rate of more than 75 per cent.
The startup has already acquired partnerships with the likes of Fortinet NSE, Leading India AI, Skysthelimit.org, and GoDaddy Academy for curriculum vetting and certifications. With a career-ready programme within four years of engineering, over 6,000 students have found placements in the IT-industry through byteXL training.
Commenting on the investment, Karun Tadepalli, CEO & co-founder, byteXL said, “In the next 10 years, India is likely to employ 16 million engineers and currently about 93 per cent of engineering graduates in India are not equipped enough to enter the IT industry. That’s the reason byteXL is aiming to increase the Employability Quotient of the country by enabling IT career readiness in students from day one of their graduation.”
While sharing his vision on the investment, Joseph Joy, president, Joy Family Investments said, “Ed-Tech is an important aspect of an educational institution, and we are confident that the domain knowledge which the byteXL team has is worth appreciating. The technical ability and contribution by byteXL will help the platform bridge the gaps in the current ed-tech ecosystem with its inventive approach to make e-learning possible and to become a strong market player in the space in the coming years.”
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