- Gurgaon-based tech startup Pesto Tech raises funds from various Silicon Valley angel investors.
- The startup will use this capital to expand its services globally.
Gurgaon-based tech startup Pesto ed-tech raises an undisclosed amount of investment from various Silicon Valley angel investors.
The startup will use this fresh capital to expand its services globally and to enhance its services for better and sustainable growth.
These group of Silicon Valley angel investors will include:
- Ryan Hoover (Founder of Product Hunt)
- Anand Chandrasekaran (Angel Investor)
- Ankur Nagpal (Founder & CEO of Teachable)
- Sahil Lavingia (Founder & CEO of Gumroad)
- Hiten Shah (Co-founder & CEO of FYI)
- Andreas Klinger (Investor at Remote First Capital)
- Maran Nelson (Founder Of Interact)
- Derek Anderson (Co-founder of Bevy)
- Cindy Bi (General Partner at CapitalX)
“We are excited to welcome some amazing people to the Pesto fam, their advice will be valuable for us as we get into our next phase of growth,” said, Ayush Jaiswal, Co-founder & CEO, Pesto Tech.
“As the world goes remote, our aim is to make sure we make it extremely easy for companies to think about talent acquisition globally from day zero. This will help build a level playing ground for talent to compete for such opportunities, irrespective of where they’re born,” he added.
“The future of knowledge work is remote and Pesto is accelerating this transition, connecting strong developers in India with the world’s best startups.” said, Founder of ProductHunt, Ryan Hoover.
“A large part of the next million tech jobs will be remote and 23.5% of the world’s developers are in India. Pesto can take these opportunities and offer them to underserved markets. The timing to do this couldn’t get better”, said, Maran Nelson, Founder & CEO, Clara labs & Interact.
On May 29, 2019, Pesto Tech first raised $2 million in its Seed funding round from Bengaluru-based venture capital firm Matrix Partners India.
The startup is funded by six investors including Sriharsha Majety (Co-founder & CEO, Swiggy), Rahul Jaimini (Co-founder, Swiggy), Ritesh Malik (Founder & CEO, Innov8 Working), Matrix Partners India, Nandan Reddy (Co-founder, Swiggy), Ashish Tulsian (Founder & CEO, Posist).
About – Pesto Tech is a Gurgaon-based ed-tech startup founded in 2017 by Ayush Jaiswal. The startup offers remotely working opportunities for Indian engineers offering them a 12-week intensive training program to help break into international tech careers via full-time remote jobs.
On average, these engineers have received nearly a three-fold salary increment post the program, with the highest being a 16x hike to an $82,000 salary package.
The startup model operates in (Income Sharing Agreement). In this model, Joined students don’t have to pay tuition expenses until they get hired. Once they get hired, Pesto Tech takes 17% of their salary for the next three years.
The salary is paid in rupees and taxed under local tax laws, under a tripartite agreement between the US employer, Pesto, and the India-based employee.