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Thursday, March 23, 2023

NxtWave raises over $30M to provide industrial training programmes

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NxtWave, an edtech company, announced on Tuesday that it has secured $33 million (about Rs 272 crore) in its latest investment round headed by private equity firm Greater Pacific Capital. Orios Venture Partners, an existing venture investor in NxtWave, also participated in the investment round.

NxtWave, an upskilling platform, announced a $33 million fundraising round headed by global equity firm Greater Pacific Capital on Tuesday (GPC). Orios Venture Partners, an existing venture investor, also participated in the round.

NxtWave, founded in 2020 by IIT Bombay, IIT Kharagpur, and IIT Hyderabad grads Sashank Reddy Gujjula, Anupam Pedarla, and Rahul Attuluri, provides learners with upskilling classes, assisting them in obtaining jobs in the technology industry.

NxtWave claims to have assisted learners in obtaining employment in 1,250 firms, including fast-growing startups and Fortune 500 corporations.

Nandan Desai, managing director and co-head of India for GPC, will join the board of NxtWave as part of the agreement.

Some firms, like Masai School and Scaler, have given upskilling services to learners in recent years, as demand for technology and software workers has increased.

Simplilearn, which offers technology certification courses, is another participant. SimpliRecruit, Simplilearn’s job-tech branch, was also formed to assist organisations in finding the greatest technological talent.

With financing slowing and corporations becoming cautious about recruiting, platforms such as Unacademy’s Relevel, which was formerly in the job-tech and upskilling space, opted to refocus its business.

Unacademy creator Gaurav Munjal notified colleagues last month that Relevel has moved its focus to testing goods and its new app NextLevel, which is a professional networking site.

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