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.
IT major HCL on Thursday said it has acquired a majority stake in vernacular edtech platform GUVI — one of the few companies in India to partner with Elon Musk’s ‘OpenAI’ initiative — for an undisclosed sum.
The IIT Madras and CIIE (IIM Ahmedabad) incubated startup offers technical courses such as web development, AI module, SQL, and various other courses created by industry experts in vernacular languages.
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“Through this investment, the aim is to address the critical technical skill gap across enterprises,” said Shikhar Malhotra, Director-HCL Corporation.
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“We are delighted to associate with GUVI to ensure that technology aspirants have ease of access to learning and upskilling via holistic courses in the native language they are comfortable conversing in,” added Malhotra.
Founded by Arun Prakash M, Sridevi M and SP Balamurugan in 2014,
GUVI provides tailor-made courses for learners, universities, and employers.
GUVI offers computer programming courses in Hindi, Telugu, Malayalam, Tamil, English, and Arabic.
“We believe this association will be a game-changer for the edtech space servicing audiences in their mother tongue. Also, leveraging HCL’s global network, we are looking forward to empowering a large pool of professionals,” said Prakash, Co-Founder, and CEO of GUVI.
To date, GUVI has upskilled more than 1.7 million students and professionals in the latest technology skills and helped them gain placement across sectors.
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