[Funding alert] Edtech startup Newton School raises $650,000 led by Nexus Venture Partners
Bengaluru-based edtech startup Newton School on Tuesday announced that it has raised $650,000 in a seed round of funding led by early-stage venture capital firm Nexus Venture Partners.
The funding round also saw the participation of Unacademy founders Gaurav Munjal, Roman Saini, and Hemesh Singh; US-based startup platform AngelList; Srinivas Anumolu, Founder of Upwork; veteran educationists Ajay Gupta and Sahil Aggarwal; and K Ganesh, Founder of GrowthStory.
According to a statement by the startup, Newton School will be using the capital to strengthen its product and expand its team.
Nishant Chandra, Co-Founder, Newton School, said, “Millions of students every year go to engineering colleges with outdated curriculums which teach coding using pen and paper and have little relevance to industry requirements. This results in a meagre three percent employability for new-age jobs even after spending lakhs of rupees. Newton School has developed interactive products and curriculum that allow students to practice coding and get instant feedback, build live industry oriented projects, and get it reviewed by top software developers, making them ready for high paying jobs.”
“With the product and community first thinking, within the first few months of execution, Newton School is showing great results and creating meaningful impact in lives of software engineering graduates and making hiring of great tech talent easier for companies. We look forward to the journey with Newton School where they are building an online academy and solving the deep problem of employability of graduates,” added Pratik Poddar, Principal, Nexus Venture Partners.
While the placements at colleges halted due to the pandemic, according to the startup, its first batch graduated recently with 90 percent placement rate with alumni working in top companies like Unacademy, Rapido, Toppr, etc.
Newton School aims to have 10,000 students placed by 2021. The startup also hosts monthly Newton’s coding challenges and free courses.
Founded in 2019 by serial entrepreneurs and college friends Nishant Chandra and Siddharth Maheshwari, Newton School is an online edtech platform that trains people with technical skills and gets them placed in top companies and startups as frontend, backend, and full-stack software developers among other roles.
Edited by Saheli Sen Gupta