Telugu-led NxtWave raises $33 million funding
In a statement, the company said that over the last couple of years, more than 1,250 companies, including startups and Fortune 500 organizations too, hired thousands of NxtWave learners
Hyderabad: Edtech firm NxtWave has raised US$ 33 million (Rs.275 crore) in its latest funding round led by private equity firm Greater Pacific Capital. NxtWave’s existing venture investor Orios Venture Partners also participated in the funding round.
Founded by three Telugu youngsters – IIT Bombay, IIT Kharagpur and IIIT Hyderabad alumni Sashank Reddy Gujjula, who hails from Miryalaguda, Anupam Pedarla from Eluru and Rahul Attuluri from Godavarikhani, NxtWave is touted as India’s largest online employability platform built to prepare for advanced technology careers.
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“We are excited to have Greater Pacific Capital (GPC) as a new partner in our journey. Our Telugu states are known worldwide as the home of skilled IT professionals. Our youth are very talented. All they need is proper training. Together with GPC, we are taking international level training in software development to every corner of the Telugu States and preparing them for tomorrow’s modern jobs.,” NxtWave Co-Founder and CEO Rahul Attuluri said.
In a statement, the company said that over the last couple of years, more than 1,250 companies, including startups and Fortune 500 organizations too, hired thousands of NxtWave learners. It now plans to invest the funds in product and content, onboard over 10,000 companies to hire its learners and fulfill skilled talent requirements of the industry, undertake acquisitions in the next couple of years and expand to multiple geographies within the country, a statement said.
Nandan Desai, MD and Co-Head of India for GPC, will join NxtWave’s board as part of the transaction. “We are excited to partner with NxtWave to rapidly scale its platform and provide access to high-quality education and training for India’s youth for this exciting global growth area,” GPC Founder and CEO Ketan Patel said.
