Mumbai-based startup Imarticus Learning has raised $2 million in a Series B funding round from venture capital fund CBA Capital. Imarticus Learning offers certified industry-endorsed courses in Financial Services, Business Analysis, Business Analytics & Wealth Management,
Vishal Bharat, Founder, and Director at CBA Capital shared in media, “At this juncture, Imarticus needs sustained support to achieve its full potential in scaling both online and offline platforms to register massive growth. With the right resources, Imarticus Learning can accelerate its journey as a global leader in the tech-based up-skilling and cross-skilling domain,” said
The company plans to deploy this funding to support its international expansion in Dubai, Africa, and Manila and establish institutes in cities like Ahmedabad, Kolkata, and Indore.
Barshikar and Sonya Hooja founded Imaticus Learning in 2012. 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 percent.
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. Before that, it had raised seed fund of about $700K in 2013.
Of late, tech startups went through a boom regarding fundraising. One of the most prominent edtech platform Byju’s is considering the 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. According to a study by Google and KPMG, the online education sector in India is expected to rise at a compounded annual growth rate (CAGR) of 52 percent to $1.96 billion by 2021.