Bengaluru-based EdTech Startup Newton School raised $25 million in a Series B funding round led by Steadview Capital. Existing investors Nexus Venture Partners and RTP Global also participated in the round.
The capital raised will be used to accelerate the startup’s growth and expand its technology, team, and brand-building initiatives.
Newton School, Founded in 2019 by Nishant Chandra and Siddharth Maheshwari, is building a university for aspiring software developers and, to democratize higher education. It aims to provide outcome-oriented learning skills to freshers and enhance them for working professionals.
The neo-university enables people from across the country to become highly skilled in software development and has placed over 1,500 aspirants in more than 500 companies such as Google, Lenskart, Flipkart, Deloitte, Target, and Meesho.
Newton School recently launched a Master’s degree program for people with non-tech backgrounds with an initiative to provide flexible learning to working professionals. It is on the track to reaching 100 million in annualized run rate.
Nishant Chandra and Siddarth Maheshwari, Co-founders of Newton School, said, “This fundraise will enable us to build a strong brand and leadership team while investing in innovative technologies like AI to transform education. In India, you have more than a million college graduates every year who fail to get relevant employment opportunities, and yet there are thousands of companies struggling to find talent. Newton School’s learning platform aims to bridge this gap.”
Puneet Kumar, Managing Director at Steadview Capital, added, “We’re thrilled to support Siddharth, Nishant, and the Newton School team in realizing their vision of a technology-driven neo-university. In a country where graduates are left with single-digit employability rates despite spending significant amounts of money on education, Newton School’s unique model and platform will support the aspirations of millions of Indians by removing location barriers and lowering costs.”
In February 2021, the tech startup had raised $5 million in a Series A funding round led by RTP Global and angel investors like Kalyan Krishnamoorthy of Flipkart, Kunal Shah of CRED, and Freshworks’ Girish Mathrubootham Udaan’s Sujeet Kumar, and the founders of Unacademy and Razorpay.
In the current funding round, Bengaluru-based tech-focused investment bank, IndigoEdge, served as the exclusive transaction advisor to Newton School.