Bengaluru-headquartered skill development and learning platform for developers, Crio.do, raised Rs 7 crore (about $936,197 at current exchange rates) in a bridge funding round, dubbed pre-Series A, led by 021 Capital Scheme 1 earlier this week, according to regulatory filings.
The venture capital firm, with a corpus of nearly $50 million, is backed by Flipkart co-founder Binny Bansal who was an early investor in the company and participated in its $1 million seed round in January 2019.
Other investors in Crio.do include former Flipkart executives; founder of Udhyam.org Mekin Maheshwari; co-founders of business to business e-commerce platform Udaan Amod Malviya, Vaibhav Gupta and Sujeet Kumar as well as former Flipkart CTO Ravi Garikipati.
021 Capital Scheme has previously backed supply chain management solution provider Increff and legal-tech startup, SpotDraft. The firm typically invests in upto Series A companies with a cheque size of upto $2 million.
Owned and operated by Qift Solutech, Crio.do will utilise the capital for its general working capital needs and expansion, according to its regulatory filings.
Crio.do was founded in 2018 by former Flipkart executive Rathinamurthy R and former Googler, Sridher Jeyachandran as an applied learning platform for software developers. The company which provides training and skill assessment services to companies for entry-level developers has also altered its memorandum of association for possible acquisition in the space for the company.
Crio.do has curated programmes for companies including the likes of Flipkart, Visa, Rakuten, GoIbibo, Jio, Kaleyra and Capillary.