Edtech Startup Pesto Tech Raises Funds to Strengthen Presence in Silicon Valley The company has raised an undisclosed amount of funding from a clutch of angel investors from the Silicon Valley
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Indian edtech startup Pesto tech on Thursday announced that it has raised an undisclosed amount of funding from silicon valley angel investors such as Ryan Hoover of Product Hunt, Anand Chandrasekaran of Stalwart Angel Investor, Ankur Nagpal, founder and CEO, Teachable and Sahil Lavingia, founder and CEO, Gumroad.
The company said it will utilize the fresh capital to strengthen its presence in Silicon Valley as a part of its mission to grow globally.
Founded in 2018 by Ayush Jaiswal, the startup enables Indian software engineers to work remotely for global companies. The company claims that they aim to get Indian software talent borderless by unlocking the potential of remote work.
Till date, Pesto tech has helped 85 per cent of the 100 graduates get placed and the remaining 15 per cent are in the late stages of the interview process. Salary packages of few of these software engineers have been as high as USD 85,000 and the highest salary increment has been 16X leading to a package of USD 82,000.
Pesto grads are hired by leading tech startups including Highlighter, Snorkel, Human Capital, Remotion, Airmeet, Paypal among others.
Commenting on the recent funding, co-founder and CEO Jaiswal said, "We are excited to welcome some amazing people to the Pesto fam, their advice will be valuable for us as we get into our next phase of growth. As the world goes remotely, our goal is to make sure we make it extremely easy for companies to think about talent acquisition globally from day 0. This will help build a level playing ground for talent to compete for such opportunities, irrespective of where they're born."
Product Hunt's Ryan Hoover said "The future of knowledge work is remote and Pesto is accelerating this transition, connecting strong developers in India with the world's best startups."
Speaking on the recent development, Sahil Lavingia of Gumroad, said, "I'm super excited to see ISAs applied to the Indian market. Pesto's results in their prior cohorts speak for themselves - their future cohorts will be more outstanding."
Rahul Jamini, who previously co-founded Swiggy and is also an angel investor of Pesto Tech has joined the edtech startup as co-founder and chief operating officer.