Bengaluru: Masai School, which offers courses on technology, has raised $5 million (around Rs 36 crore) in a Series A exercise.
The round in Bengaluru-based Masai School has been led by Omidyar Network India.
Other participants in the round include existing backers such as Unitus Ventures, India Quotient, and AngelList India.
Masai School, operated by Nolan Edutech Pvt Ltd, was set up in 2019 by Prateek Shukla, Yogesh Bhat, and Nrupul Dev.
The company says it leverages an income-sharing agreement to provide courses for students.
It offers courses on full-stack web and Android development. The firm will use the capital it has raised to build curriculum and courses on disciplines such as user interface and user experience, product management, and data analytics.
The proceeds will also be used to strengthen offerings by hiring more faculty members, among other things.
“Year after year, India produces lakhs of graduates but a very small percentage is employable. On the other hand, the burgeoning industry struggles to find relevant entry-level talent, which implies that the root of the problem lies in the education system,” Shukla said.
Masai School says over 200 students have so far graduated from its courses, with a placement rate of 91%. Hiring partners for the company include Samsung, ShareChat, Urban Company, GlobalLogic, Airmeet, and Lendingkart.
Other startups utilizing the income-share agreement model include Newton School and Pesto.Tech which focuses on coding.