Exclusive: AngelList leads seed round in edtech startup Konfinity

Exclusive: AngelList leads seed round in edtech startup Konfinity
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22 Jan, 2020

Konfinity, an artificial intelligence (AI) powered platform for software programming courses, has raised an undisclosed sum in a seed round led by AngelList, a top company official told TechCircle.

Limited Liability Partnership firm FirstCheque, mCarbon CEO Rajesh Razdan, Jugnoo ClickLabs CEO Samar Singla, founders of healthtech startup Curofy, Amit Kapoor, faculty at Harvard Business School also participated in the round,” Navratn Singh, co-founder of Konfinity told TechCircle.

Singh founded Noida-based Konfinity Infotech, the company that owns the platform, in January last year with Kamal Pandey. Prior to Konfinity, Singh worked with a startup called Plat, which was later acquired by Housing.com. Pandey was a co-founder of Plat before he started his career in software development at Microsoft in 2012.

The capital raised in this round will be used to expand to over 100 colleges across 12 cities in the next six months.

Konfinity operates an AI-based platform which the company claims trains students to become affluent software developers within six months. It also helps them to get placed in a technology company without any upfront cost.

The company, which works on an income-share agreement, presently has courses in web development, data science and UI/UX. It is also looking to add animation, graphics and AWS courses going forward.

Konfinity has partnered with over 12 colleges in India with over 2,000 active students currently on the platform.

"More than 60% of Indian engineers are unemployed and are not equipped to work on coding frameworks as required by new-age tech companies. Team Konfinity has identified this huge skill gap problem and has created an online solution to tackle this issue and are poised to scale it in a sustainable way," Utsav Somani of AngelList said.

Recent edtech deals

The edtech sector has been gaining popularity lately and attracting investor interest. Last week, Matrix Partners India invested in a startup called Toddle, which is a productivity platform for teachers.

Earlier this month, Byju’s became the most valued company in the segment after its valuation soared to $8 billion with a fundraise of $200 million from Tiger Global.

Around the same time, Delhi-based Aakash Educational Services acquired a majority stake in Meritnation, a platform providing online coaching to school students.