NEW DELHI, Apr 21:
Edtech startup Newton School on Thursday said it has raised USD 25 million (about Rs 191 crore) in a Series-B funding round led by investment firm Steadview Capital.
Steadview Capital’s portfolio includes Indian unicorns Nykaa, Polygon, Zomato and Freshworks.
Existing investors Nexus Venture Partners and RTP Global also participated in the round.
The capital raised will be used to accelerate the company’s growth and expand its team, technology and brand building initiatives, the company said.
Founded in 2019 by IIT batchmates Nishant Chandra and Siddharth Maheshwari, Newton School provides outcome-oriented learning experiences to freshers and working professionals and enables them to become skilled software developers.
“This fundraise will enable us to build a strong brand and leadership team while investing in innovative technologies like AI to transform education. In India, you have more than a million college graduates every year who fail to get relevant employment opportunities, and yet there are thousands of companies struggling to find talent. Newton School’s learning platform aims to bridge this gap,” Maheshwari said.
In just over two years, the startup claims to have placed over 1,500 aspirants in over 600 prestigious companies, including Google, Lenskart, Razorpay, Flipkart, Zomato, Deloitte, Meesho and Target.
“Newton School’s unique model and platform will support the aspirations of millions of Indians by removing location barriers and lowering costs. We are confident in Newton School’s growth potential and are proud to partner with them in addressing crucial needs in the Indian education sector,” Steadview Capital managing director Puneet Kumar said.
Newton School’s Series-B round follows just a year after it raised USD 5 million in a Series-A round led by RTP Global and angels such as Flipkart’s Kalyan Krishnamoorthy, CRED’s Kunal Shah, Freshworks’ Girish Mathrubootham, Udaan’s Sujeet Kumar and the founders of Unacademy and Razorpay. (PTI)
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