Edtech startup Imarticus Learning raises $2M in Series B funding from CBA Capital
Imarticus Learning, which provides a range of learning and reskilling solutions, will use the new funds to expand national and international operations.
Mumbai-based edtech platform Imarticus Learning raised its Series B funding round of $2 million led by education-focused venture capital fund CBA Capital. According to business information platform Crunchbase, the team had earlier raised $1 million funding.
The current fund raise will be used to expand Imarticus Learning’s international operations and strengthen its presence in cities where it is already operational, including Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, and Pune.
Expanding across domestic and international geographies will be a key focus for the company during the 2018-2019 period, as it plans to establish institutes in cities like Ahmedabad, Kolkata, and Indore.
Founded by Nikhil Barshikar, Imarticus Learning provides a range of learning solutions for corporates in the training, placement and other solutions. Imarticus, which also has Sonya Hooja and Vishal Bharat as co-founders, claims to have trained over 30,000 students globally and aims to skill 55,000 students by 2020.
Imarticus Learning is already present as an online education platform for over 5,000 students in regions such as the Middle East, Africa, and Southeast Asia. To amplify its presence in these regions, the company will expand its offerings in the online learning category and roll out new programmes in the finance and analytics space in the next two quarters.
The programmes will be targeted towards the B2C and B2B segments with an equal emphasis on bringing both individual learners and corporates to its platform to access a wide range of reskilling opportunities.
For further expansion into international markets, Imarticus Learning’s key focus will be on Dubai, Africa, and Manila, which represent some of the fastest-growing markets for online professional education and reskilling.
The startup has also worked with around 200 corporates across the globe, helping facilitate management training and reskilling programs for their employees. Imarticus is set to open its second institute in Delhi, focused on financial services and analytical programmes. The team is also looking to enter three new Tier II locations in the near future.
Surge in investments
According to a KPMG-Google report released in May 2017, the online higher education market is expected to touch $1.96 billion by 2021. Reskilling and online certification courses currently account for a majority (38 percent) of the online higher education market, the report added. There has also been a surge in investments in the online education sector, with online skill training startups shifting focus from a university-based curriculum to a more industry-oriented training approach.
Speaking of the funding, Nikhil Barshikar, Managing Director, Imarticus Learning, said the funding will not only boost the brand, but also help take it to the next level of growth.
“As a well-established investor in the education sector, CBA Capital understands its potential as well as the challenges faced by the industry. Apart from being able to leverage their guidance and mentorship, the capital infusion will enhance our ability to reach out to students all over the world and bring us one step closer to redefining the relevant-skill based training landscape globally.”