Newton School has secured US$ 25 million in a new round of funding. Among other things, the edtech startup will invest the money in breakthrough technologies like AI to improve teaching.
Newton School, a Bengaluru-based edtech firm that is constructing a neo-university for aspiring software developers, has acquired $25 million in a Series B fundraising round. Steadview Capital, a global investment firm whose portfolio includes Indian startups Nykaa, Polygon, Zomato, and Freshworks, led the round.Nexus Venture Partners and RTP Global, both existing investors, also participated in the round.
The funds received will be utilized to accelerate the company’s growth, as well as to expand its personnel, technology, and brand-building activities.
Newton School was founded in 2019 by IIT batchmates Nishant Chandra and Siddharth Maheshwari with the goal of democratizing higher education. It offers outcome-oriented learning experiences to both freshmen and working professionals, allowing people from all over India to become highly proficient software developers and pursue high-paying careers in technology.
At just over two years, the neo-university has successfully placed over 1,500 students in over 600 major firms such as Google, Lenskart, Razorpay, Flipkart, Zomato, Deloitte, Meesho, and Target. It just developed a Master’s degree program for those with non-tech backgrounds in order to give flexible learning to working professionals. Newton School is on track to have a 100 million annually run rate by 2023.
Newton School founders Siddharth Maheshwari and Nishant Chandra, stated, “This funding will help us to establish a strong brand and leadership team while investing in breakthrough technologies like AI to improve teaching.”
Every year, over a million college graduates in India fail to find appropriate work prospects, despite the fact that thousands of organizations struggle to locate talent.
Newton School’s learning platform attempts to bridge this gap, and we are pleased to collaborate with like-minded investors who believe in the revolutionary power of industry-focused education and the internet.”
Puneet Kumar, Managing Director of Steadview Capital, said, “We’re happy to support Siddharth, Nishant, and the Newton School team in fulfilling their vision of a technology-driven neo-university. Newton School’s innovative concept and platform will assist the goals of millions of Indians by removing location constraints and cutting expenses in a country where graduates have single-digit employment rates despite spending considerable amounts of money on education. We believe in Newton School’s growth potential and are excited to work with them to address critical gaps in the Indian education sector.”