Home / Business / IIT-Madras startup GUVI raises funding from Gray Matters Capital

IIT-Madras startup GUVI raises funding from Gray Matters Capital

CHENNAI: IIT-Madras incubated startup GUVI, which teaches programming skills in vernacular languages, has raised Rs 1 crore from impact investor Gray Matters Capital in its first round of institutional funding.

The startup aims to use the funding to improve employability of engineering graduates by producing more industry relevant technical content in vernacular languages, and thus achieve their goal of creating one million coders in India by 2020.

Launched in 2014, GUVI wants to create an ecosystem of native technology learning for students in tier 2, 3 cities, given that engineering colleges teach programming primarily in English.

The startup conducts online classes to teach coding in languages such as Hindi, Tamil, Telugu, Bengali, and others, and has recently also launched lessons in Arabic to meet demand from the Middle East.

“Our solution need not be confined to India, and we have identified the next lucrative market in South East Asia, and are working on expand in the region,” Balamurugan, co-founder and CEO, GUVI, said.

A few programming languages and technologies covered by GUVI include Machine Learning, Python, C, C++, and others.

The startup works with engineering colleges in 11 states, and has served 1.4 lakh learners and helped over 60 companies like PayPal, Chargebee, Gofrugal and others hire from their learner pool.

“The funding is a validation of our robust business model and the impact we as an organization have made since our inception,” Arun Prakash, founder and CTO, GUVI.

“We believe that startups like GUVI can change this [India’s engineering] paradigm given that it imparts programming skills through videos in regional languages to engineering freshers beyond metro cities,” Aarthi Ramasubramanian, senior investment manager, Gray Matters Capital edLABS, said.

Sridevi A, another co-founder and COO of GUVI, says bridging gender gap in IT is also a priority for startup. “With our learner leader board dominated by women students, we will also work to get more women students on-boarded to bridge gender gaps in coding.”

Plans are also on to launch a new learning model combining classroom and digital learning, GUVI said.

News credit : Indiatimes