Mumbai-based edtech startup GreyAtom has raised $1 million in a funding round led by early-stage investor Pravega Ventures.
The startup confirms the deal in a press statement and it plans to use the funds raised to enhance technology, grow the team and to create personalised learning paths for its users. Notably, this is the seventh investment of Pravega Ventures.
Founded in early 2017 by Shweta Doshi, Mitul Thakkar, and Mayuresh Shilotri, GreyAtom is a bootcamp style learning programme for data science, machine learning, and AI.
Previously, Mitul and Mayuresh co-founded Customer360 a company in customer engagement management space, which was acquired by NASDAQ listed Indianapolis, a U.S. based -Interactive Intelligence in Nov ‘15, while Shweta worked as Associate Director at Nielsen.
The startup has also built a product Commit.Live, a homegrown cloud-based learning platform where the students login to solve real-world problems based on real data provided by industry partners.
Commit.Live claims to bring a fresh perspective to education by enabling a compelling learning experience.
So far, the firm has onboarded 35 companies as its industry partners, enrolled 41 certified instructors and processed over 450 students under various programmes.
Pravega Ventures was founded in 2016 by Mukul Singhal and Rohit Jain. The fund provides seed and pre-series A stage capital to startups. The VC fund has previously invested in companies like Silicon Valley-based big data startup Innovaccer Inc, AI-driven expense management company Fyle among others.
Currently, Pravega Ventures has a portfolio of seven startups including Crofarm, Fyle, Citizengage, Shubh Loans among three others.
Recent funding for edtech startup
Of late, a slew of edtech startup have raised capital. On Monday, Edtech firm AEON Learning backed by Infosys co-founder Kris Gopalakrishnan had raised $3.2 million from MEMG Family Office.
Last week CollPoll raised an undisclosed amount of funding in a pre-Series A round led by Manipal Global Education Services (MaGE).
In December, last year Springboard raised $9.5 Mn in its Series A round. Prior to that, online learning platform Meritnation raised Rs 38 crore from Info Edge in November. The company also invested Rs 5.66 crore in Delhi-based edtech startup NoPaperForms.
Around the same time, Delhi-based Leverage Edu, an online platform for higher education, raised an undisclosed amount of financing from a clutch of investors.