Unacademy suffers a loss of Rs 285 crore in FY24
Gaurav Munjal-led edtech platform Unacademy recorded a loss of Rs 285 crore in FY24 compared to Rs 1,592 crore in FY23.
Edtech startup MyCaptain on Thursday said that the company raised a funding of Rs 14 crore from Inflection Point Ventures, MyNavi, Piper Serica, Super Capital and Ankur Capital.
Securing funds for strategic growth, the startup plans to expand its hybrid programmes into diverse cities, establishing over four regional sales centres.
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Additionally, they aim to enrich their course offerings, introducing new programmes to reach a portfolio of more than 50 beginner courses and over five placement readiness programmes.
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“With this fresh round of funding, we continue our focus on building out a full stack career platform for your early career journey,” Mohammed Zeeshan, Co-Founder & CEO of MyCaptain, said in a statement.
The startup said it crossed over 20,000 enrollments across its courses and will be ending with Rs 31 crore in booking revenue in FY 2023-24. It aims to reach more than 50,000 yearly enrollments in its courses and Rs 100 crore in bookings by FY 2025-26.
“With the Indian edtech market projected to reach $10.4 billion by 2025, MyCaptain’s focus on practical skill development positions it as a leader in creating an edtech platform that focuses on job readiness compared to others that focus on pre-K-12 and K-12 segment,” said Mitesh Shah, Co-Founder, Inflection Point Ventures.
MyCaptain was founded in 2016 by Zeeshan, Sameer Ramesh (CLO), and Ruhan Naqash (COO). All three hold a bachelor’s degree in technology.
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