- Investors including RTP Global, Nexus Venture, Gaurav Munjal, Prophetic Ventures, Kunal Shah, among others participated in the funding round.
- The startup will use the funding for expanding the team, scaling student intake, and product development.
- In September 2020, Newton School had raised $650K in seed funding from a chunk of investors.
Bengaluru-based tech education startup Newton School has raised $5 million (Rs 36.5 crore) in a Series A funding round led by London-based global investment firm RTP Global at a valuation of nearly $13.7 million.
Existing investors including US-based Nexus Venture Partners, Mumbai-based Prophetic Ventures, Unacademy founders (Gaurav Munjal, Roman Saini, and Hemesh Singh), Flipkart CEO Kalyan Krishnamurthy, CRED founder Kunal Shah, Freshworks’ Girish Mathrubootham, Udaan’s Sujeet Kumar, and Razorpay founders (Harshil Mathur and Shashank Kumar) with some angel investors, also participated in the funding round.
The startup will use the funding for expanding the team, scaling student learning intake, product development for better growth, the statement said.
Prior to this round, In September 2020, Newton School had raised $650K (Rs 4.70 crore) in a seed funding round co-led by Nexus Venture Partners and angel investors including Ganesh Krishnan, Roman Saini, Gaurav Munjal, among others.
To date, The startup has raised over $6 million in a total of three funding rounds. Nexus Venture Partners is the lead investor in the startup. According to the Fintrackr report, the startup valuation stood somewhere at around Rs 150 crore.
Founded in 2019 by college friends Nishant Chandra and Siddharth Maheshwari, Incanus Technologies Pvt. Ltd, which owns and operates Newton School, offers software technology courses and helps its students to get placed in top companies and startups.
Commenting on the funding, Nishant Chandra, Co-Founder & CEO of 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 1000s of companies struggling to find talent. We aim to bridge this massive gap through Newton School’s personalized learning platform."
Also Read: Masai School Launches Glide Program To Reward Top Performing Students
The startup works on the 'Enroll Now Pay Later' model in which the enrolled students doesn't require to pay the course fee until they get a high-paying job in the company or the startup.
"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 the top edtech startups, and is taking care of his family now," said Siddharth Maheshwari.
Another coding edtech startup Masai School also works on the same 'Enroll Now Pay Later' model.
It claims that its enrolled students are being hired by top startups such as Zomato, Unacademy, Nykaa, Affle, others.
Follow IndianStartupNews on Facebook, Instagram, Twitter for the latest updates from the startup ecosystem.