Guvi, a Chennai-based edtech startup that helps students learn coding in their native language, has raised Rs 15 crore($1.9 million) from Vama Sundari Investments, which is a promoter of India’s third largest IT services company HCLTech.
According to the company, the fresh capital will be used for general corporate purposes and to meet capital expenditure.
Founded in 2014, Guvi is an IIT Madras-incubated company providing online technical learning service and making engineers employable by making difference in the way they are learning. Guvi offers technical video courses like Android, Python, Java, C, C++, Machine Learning, Big Data, MongoDB in vernacular languages which are created by working professionals in native languages like Tamil, Telugu, Hindi,Kannada, Bengali etc.
The funds has been injected into the company after a gap of two and a half years. Guvi secured Rs 6 crore in its pre-series A round from Education Catalyst Fund, an education-focused venture capital fund managed by CBA Capital.
Its regulatory filing with the registrar of companies shows that the board at Guvi has passed a special resolution to issue 1,878 equity shares at an issue price of Rs 79,906 per share to raise Rs 15 crore ($1.9 million) from Vama Sundari Investments.
As per Fintrackr’s estimates, the company has been valued at around Rs 134 crore ($17 million) post allotment.
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