- The edtech startup will infuse the raised funding to introduce new learning programs in User Interface (UI), User Experience (UX), Product Management, and Data Analytics.
- The round was led by Omidyar Network India and existing investors of the startup.
- Prior to this round, Masai School had raised $2.5 million in a seed funding round.
Bengaluru-based career-focused edtech startup Masai School has raised $5 million (about Rs 36 crore) in a Series A funding round led by Mumbai-based VC firm Omidyar Network India. The funding round also saw participation from existing investors, including Unitus Ventures, India Quotient, and AngelList India.
Masai School intends to infuse the raised funding to introduce new courses in User Interface (UI), User Experience (UX), Product Management, and Data Analytics. While it also aims to strengthen the existing course offerings, the statement said. Currently, it offers full-stack web development and android development courses.
Prior to this round, Masai School had raised $2.5 million in a seed funding round in August last year, led by Unitus Ventures, India Quotient, and AngelList India. In February 2021, The startup had launched its glide program to reward its top-performing students.
Founded in 2019 by IIT graduates Prateek Shukla, Yogesh Bhat, and Nrupul Dev, Masai School specialized in providing job-oriented software courses. It provides both part-time and full-time coding programs in full-stack web development and android development. The startup follows the Income Sharing Agreement (ISA), Which allows students to pay the course fee after they get a high-paying job.
Prateek Shukla, CEO & co-founder of Masai School, said, "The funding will primarily be used to expand our curriculum and contribute to the transitioning of our business model from being a coding-centric to a career-focused institute." The platform is on track to graduate more than 2000 learners in FY 2020-21.
He further said that Masai School has helped 200+ students launch their full-time coding career while more than 50% of those students are from a non-coding background.
The edtech startup also offers a Glide Program, also called the Living Allowance Program, under which it gives Rs 15,000 per month as a living allowance to its top-performing students till the end of the course duration.
The startup claims that its graduates have joined tech companies like Paytm, Sharechat, BharatPe, Pagarbook, MPL, Instamojo, Small case, IBM (International Business Machine), Urbanclap, among others.