AltUni Raises $500,000 Funding The capital raised will be deployed for further developing its online platforms and strengthening community engagement to make India's youth industry-ready
By Teena Jose •
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AltUni by InsideIIM, an alternative digital university, has raised $500,000 from Indian Angel Network and a host of angel investors. IAN led this round and many angel investors participated in this round are Vishesh C Chandiok, CEO of Grant Thornton Bharat LLP; Ganesh Balakrishnan, Harsh Parikh, Narayan Babu, Supreet Singh, Ashvin George, Prashant Mohanraj, Shreyans Mehta, Amit Monteiro, Raghav Joshi, Mainak Shome, Bhoopesh Jain, Sandeep Bhadresa among others. The capital raised will be deployed for further developing its online platforms (insideiim.com, insidekampus.com and AltUni.in) and strengthening community engagement to make India's youth industry-ready.
"For years, India has been the capital of unemployable candidates with paper degrees. We believe it's time to make India the skills capital of the world. Our company mission is to enhance India's human capital. College education is not sufficient to be employable at a time when Artificial intelligence is threatening the existence of many jobs. AltUni helps early career professionals and college students gain skills that will future proof their careers for the next decade. AltUni also offers personalized mentorship so that candidates can navigate an uncertain job market with expert help," said Ankit Doshi, founder, AltUni by InsideIIM.
In an official release, AltUni claimed that it has over 4000 alumni in 36 months who have gained skills needed to excel in a digital business, and has an ARR of INR 12 crore and is operationally profitable. Moreover, it added that the company is among few startups in the country to have more than 50% women in the team.
"This investment not only validates our mission but also fuels our commitment to making quality education available to learners globally. AltUni's dedication to addressing the challenges in the higher education sector aligns with our mission to support innovative solutions. We are confident that this investment will help AltUni further its mission and bring about positive change in the education landscape," said Padmaja Ruparel, co-founder, Indian Angel Network (IAN).
Launched in 2020, AltUni provides affordable short modules of immersive online learning courses instead of remote learning programs that stretch endlessly and become redundant with passage of time.
