AI-based skilling startup, Caymus Technology raises Rs.1.2 Cr in angel round
Mumbai-based skilling platform, Caymus Technology raised Rs.1.2 Cr in an angel round that saw participation from technology leader Rob Solomon along with angel investors from India and US.
Launched in 2018 by Kavita Mehta, the startup intends to use the funds to boost their customer base and to make more significant investments in their core AI-based technology and product stack.
Caymus Technology Ventures is a one year old startup focused on integrating education, skills and technology by using Artificial Intelligence to recommend learning programs aligned to career goals for both personal and professional development. Mehta has another venture in the education sector called The Red Pen which was launched in 2011.
“Today there are many online platforms that bring instructional content from universities and organisations to learners’ personal space, allowing them to upskill while working. Such players have cracked open the edtech market in a big way. Now, however, there is mass confusion over which courses to opt for. On Lore, we leverage AI so that candidates can make their own informed, right-fit decisions about the skills they want to add to their portfolio,” said Mehta.
With two flagship products, namely Lore and Thunderbird, Caymus aims to curate customized learning programs. Some of the programs on Lore include training courses in Blockchain, AI/Machine Learning, Entrepreneurship, Digital Marketing and Management among others.
Speaking of his equation with Mehta, investor Rob Solomon, CEO, GoFundMe shared “I have known Kavita for over two decades and have worked closely with her at two global companies. This long-standing association gives me confidence that she possess the right skill sets, range of experiences, and global network to make an impact at scale.”
2019 is seeing a lot of investments in EdTech startups. In June 2019 Bengaluru/San Francisco based Degreed raised a funding of Rs. 245 Cr followed by ConceptOwl roping in Rs.3.5 Cr and Saudi based Noon Academy raising $8.6 Mn. Degreed additionally also raised about $40 Mn (Rs.280 Cr) in venture debt from Alliance Bernstein Growth Stage Capital.
Given EdTech startups are developing AI enabled learning solutions at a time when the need for upskilling is a priority across functions, the agility and ability of an organization to capitalize on such programs will help differentiate it from the rest.