HCL Group acquires majority stake in vernacular edtech platform GUVI
IT company HCL Group has acquired a majority stake in vernacular edtech platformwhich offers technical courses, the company said on Thursday.
The IIT Madras and CIIE (IIM Ahmedabad) incubated company, GUVI offers technical courses such as Web Development, AI module, SQL, and various other courses created by industry experts in vernacular languages. It provides tailor-made courses for learners, universities and employers.
HCL aims to create skilled tech professionals in India and abroad with this investment. The company, however, did not disclose the financial details of the transaction.
"HCL believes in the philosophy of multiplying the potential of not just individuals but communities at large. In line with the same belief, we are delighted to associate with GUVI to ensure that technology aspirants have ease-of-access to learning and upskilling via holistic courses in the native language.
"Through this investment, the aim is to address the critical technical skill-gap across enterprises," HCL Corporation Director and Shiv Nadar Foundation Trustee, Shikhar Malhotra said in a statement.
Co-founded by Arun Prakash, Sridevi Arun Prakash, and SP Balamurugan in 2014, GUVI will focus on creating a demography-agnostic ecosystem that will allow all deserving individuals to acquire technological skills. The startup had raised Rs 6 crore in its pre-series A funding round from Education Catalyst Fund in July last year
To date, GUVI has upskilled more than 1.7 million students and professionals in the latest technology skills and helped them gain placement across sectors, the statement said.
"We are excited to join hands with HCL and believe that this association will be a game-changer for the EdTech space servicing audiences in their mother tongue. Also, leveraging HCL's global network, we are looking forward to empowering a large pool of professionals," GUVI co-founder and CEO Arun Prakash said.