Edtech startup Nxtwave has raised $2.8 million in a pre-Series A funding round funding led by Orios Venture Partners and Better Capital along with popular angels including Ravi Bhushan, Ramakant Sharma, Vikram Kailas, Umang Kumar, Chakradhar Gade, Anupam Mittal, Vikas Malpani, Rajesh Shawney, Nandu Nandkishore and Shaji Devakar and Giridhar Malpani.
The startup plans to deploy fresh capital for expanding the team, accelerate product development and penetrate further in the existing markets to scale the revenue by 5X in the next 12 months.
Founded in 2020 by Sashank Reddy Gujjula, Anupam Pedarla and Rahul Attuluri, NxtWave offers vernacular, asynchronous & online cohort-based training programs in tech career tracks for college students, graduates and early professionals.
The Hyderabad-based firm is bootstrapped, cash-flow positive and has profitably grown by 9X in the last 10 months to $7.5 million ARR. The company claims to have built an active student community of over 200,000 students from over 3,000 colleges and currently has paid customers from more than 250 districts with more than 85% of them coming from non-metros and rural areas.