Pune-based Giggle Galaxy, which provides degree and certification courses under the brand name ImaginXP, said it has raised $1.5 million in a pre-Series A round of funding.
According to a statement, the investment was led by Mumbai headquartered integrated incubator Venture Catalysts, with participation from Pentathlon Ventures managing partner Shashank Deshpande, Mobiliya Technologies founder Krish Kupathil, venture capital fund Samyakth Capital, and others. The name of the other participants was not disclosed.
ImaginXP said it plans to deploy the fresh funds towards accelerating both offline and online degree programmes, with a focus on the B2B training segment.
Founded in 2013 by Shashank Shwet, the startup currently offers B.Des, M.Des, BBA, MBA, BSc and BTech degree programmes and various for-credit certification courses in partnership with 22 universities. The entire effort is driven by a corporate-led curriculum, well-trained faculty, and a dedicated ‘MyCoach’ platform that brings over 1250 corporate coaches led mentorship and live projects for students.
“ImaginXP has a proven revenue model with universities to help them increase their capacity by providing future skills and a focus on student ROI. The MyCoach platform with such a huge captive TAM and online degrees has digitally accelerated the company to a 3 times growth trajectory over the last 2 years,” Anuj Golecha, co-founder at Venture Catalysts, said while commenting on the investment.
As of now, the startup has over 70 full-time faculty members and a total of 300,000 learners, the statement said. Moving ahead, it plans to increase the faculty size to over 500 and create new disciplines in design, technology and business to get the students ready for the digital world.
Healthcare vocational training startup Virohan secures undisclosed sum
Virohan, a Gurugram headquartered startup providing healthcare-focused vocational courses, said it has received an undisclosed amount in fresh funding.
The investment comes as a grant from Wadhwani Foundation and ACT Grants and follows the startup’s seed and Series A round -- cumulatively worth $2.8 million -- raised in August 2020, a statement said.
However, the company did not say how exactly it planned to use the fresh capital.
Founded in 2018 by Kunaal Dudeja, Nalin Saluja, and Archit Jayaswal, Virohan offers a variety of courses to help people interested in the healthcare sector easily develop the required technical and life skills to get job-ready.
“Virohan’s vision is to educate over 1 million students by 2025, through its best-in-class, blended learning platform. The grant from Wadhwani is an important step in fulfilling that vision,” Dudeja said in the statement.
The startup bridges the gap between industry demand and the skills of the healthcare workforce by using its proprietary ‘technology skill stack’ which enables job prediction, aggregates training providers and standardizes processes across the student journey from mobilization to training content to placements.
It currently offers 5 certificate courses to gain expertise in administrative and technical areas of the healthcare ecosystems and claims have a placement rate of 84%.