[Funding alert] Edtech startup Newton School raises $5 M in Series A round led by RTP Global

Bengaluru-based edtech startup, Newton School on Monday announced that it has raised $5 million in Series A round of financing, led by RTP Global.

The round also saw participation from existing investors Nexus Venture Partners, Prophetic Ventures and Unacademy co-founders Gaurav Munjal, Roman Saini and Hemesh Singh, Flipkart’s CEO Kalyan Krishnamoorthy, CRED’s Kunal Shah, Freshworks’ Girish Mathrubootham, Udaan’s Sujeet Kumar and Razorpay founders Harshil Mathur and Shashank Kumar, along with a slew of angels.

According to the company's statement, the fresh capital is to be used for team expansion, scaling student intake and product development.

Speaking about the new development, Nishant Chandra, Co-founder, Newton School, said,

“On one side you have a million+ college graduates every year with low single digit employability rate, and on the other side there are 1,000s of companies struggling to find talent. We aim to bridge this massive gap through Newton School’s personalised learning platform. We are building an online academy and solving the deep problem of employability of graduates.”

Founded in 2019 by serial entrepreneurs and college friends Nishant Chandra and Siddharth Maheshwari, Newton School is an edtech platform that enables people to be highly skilled software developers and get into a tech career in top companies and startups.

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According to the founders, the startup has a unique fee model where students are required to pay zero fees upfront and only start paying once they get into a job.

“Our fee model allows people to cross financial and location barriers thus democratising access to software development learning. We have a student whose father is an autorickshaw driver and had lost all their livelihood due to covid. He ended up as a software developer in one of top edtech startups, and is taking care of his family now.” added Siddharth Maheshwari, Co-founder, Newton School

Commenting on the investment, Kirill Kozhevnikov, Partner at RTP Global, added,

“Engineering education spend in India alone is $10 billion but the net outcome is low employability rates. Newton School is bridging this massive gap through its product-centric personalised platform. In a world where increasing skills matter much more than degrees, Newton School is in a prime position to not just tap into this huge market but also to create a massive impact on the lives of millions of students by providing them access to high-quality industry oriented education.”