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Edtech startup Imarticus Learning bags $2 Mn in Series B round from CBA Capital

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Edtech startup Imarticus Learning that offers certified industry-endorsed courses in Financial Services, Business Analysis, Business Analytics & Wealth Management, has raised $2 million in a Series B funding round from venture capital fund CBA Capital.

The Mumbai-headquartered startup will deploy the latest proceeds towards international expansion such as Dubai, Africa, and Manila and establish institutes in cities like Ahmedabad, Kolkata, and Indore.

Founded in 2012 by Barshikar and Sonya Hooja, Imarticus provides aforementioned courses through online and classroom learning. It has trained over 30,000 students globally (Middle East, Africa, and Southeast Asia). Further, it aims to skill 55,000 students by 2020.

For the next two years, the startup targets a growth run rate of 100 per cent.

Apart from Mumbai, Imarticus has classroom and online delivery capabilities across India with dedicated centers located at Bengaluru, Chennai, Pune, Hyderabad, Jaipur, Coimbatore, and Delhi.

Earlier, Imarticus Learning had raised $1 million from investor Blinc Advisors and high net-worth individuals in 2016. Prior to that, it had raised seed fund of about $700K in 2013.

Other Indian edtech platforms who went global are UpGrad, Byju’s, Edureka, Unacademy, and EduPristine, while their overseas counterparts include Udacity, Coursera, among others.

Of late, edtech startups went through a boom in terms of fundraising. One of the most prominent edtech platform Byju’s is eyeing next round of funding at a valuation of $1.8-2 billion.

Besides, UpGrad, Edureka, Unacademy have also raised decent funds in the past six months.

The development was reported by TOI.

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Below is the bank details:

 
Amount: INR 3,19, 000 (After Adding 18% GST and Deducting 2% TDS)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
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