EdTech Startup Digital Gurukul To Raise USD 5mn At 50mn Valuation
The funds would be utilized across investment in programs and content facilities, building a global online tech platform, franchisee distribution, marketing - both offline and online, international expansion and the creation of 40+ offline Digital Gurukul Learning Centre for engagement and networking.
Digital Edtech startup from Indore led by Dr Raj Padhiyar has acknowledged initial interest from investors groups to raise $5 million for a 10 per cent stake.
The funds would be utilized across investment in programs and content facilities, building a global online tech platform, franchisee distribution, marketing - both offline and online, international expansion and the creation of 40+ offline Digital Gurukul Learning Centre for engagement and networking. This announcement comes close to the heels of Dr Raj Padhiyar's plans to expand Digital Gurukul into the Middle East and South East Asian markets.
The company had ventured into the EdTech category in 2018 with an aim to disrupt the sector and provide Students, working professionals, and entrepreneurs who are in constant need to master most demanded skills across Industry- Digital Marketing.
"We believe the speed at which students, working professionals and aspiring entrepreneurs in India need the next generation programs to survive and grow in the market, there is no choice but to look at things exponentially. Keeping this in mind, we have decided to open the company to a 10 per cent dilution and capital raise for us to expand course offering. We are ready to welcome more investors group to make Digital Gurukul Asia's leading Edtech company. Personally, I do believe - Out of all the assets - equity is the most valuable for Digital Gurukul and hence, we are taking a very cautious and careful step towards this dilution," said Dr Raj Padhiyar.
"The higher education world is a massive 100 million students and the core of approx 70 million, who are college students and working professionals presently, will look to Digital Gurukul in the very near future presently. As 10 per cent of them look to online learning, this will create a $6 billion revenue opportunity in the next 5 years, which Digital Gurukul plans to be, could have a one-third share, leading to a potential of $2 billion revenue. In the very immediate future, there is job creation and specific opportunity for at least 2 million jobs each across AI, Machine Learning, Data science, Coding and Software Development. That's the 4 million+ jobs," he added.
In a short span of 3 years since its launch, The Edtech Major has been associated with reputed institutes like IIM Indore, IIT Indore, NMIMS, Welingkar Institute among many others and has offline engagement across all major colleges across India.
"We are currently planning to launch the online programs with an average cost of Rs 1-1.5 lakhs - the opportunity is a whopping 70,000 crore and I firmly believe that this is just the start and the edtech category would be the most untapped market compared to all other sectors," Padhiyar said.