Upskilling Platform Moat School Raises Fresh Capital
Skillphul Business Toys Pvt Ltd, which runs upskilling platform Moat School, has raised undisclosed capital from online travel agency MakeMyTrip’s director at product management Anurag Verma.
As per the startup, the raised funds will be used towards developing Moat School’s tech stack, product development and geographical expansion.
Moat School | Upskilling Platform
Founded by Uttam Tiwari, Omkar Raikar, Vaibhav Keskar, Manikanta Prasad and Balaji S in 2021, Moat School is a Bengaluru-based upskilling platform that offers certified technology programs to students and professionals.
It claims to have 1,000 applications with a 24% conversion to long-term courses.
Speaking about the development, Uttam Tiwari, CEO and Co-founder of Moat School, said,
“We are glad to receive the funding for our effort that is closely tied with the developmental agenda of tech talent. We empower potential leaders with skills needed for future careers, further boosting the growth of the digital-first corporate world.”
The startup claims to have received over 2,000 monthly student inquiries and has recently launched its 40th cohort with 425 students and has a 70% placement ratio. It targets to reach Rs 5 crore in revenue and aims for an 8X growth in the next 12-18 months.
Commenting on the development, Anurag Verma, the investor, said,
“Moat School has built a strong tech product and platform, which has resulted in good traction in a short period of time. Its growth is justified by the founders’ deep passion for affecting the lives of learners by consistently delivering high-quality lab-based programs taught directly by top corporate executives who have built great companies. It is strategically well positioned to acquire a bigger slice in the Indian EdTech pie with a scalable business model and positive bottom line.”
Amid the funding winter, only a few edtech startups have managed to raise funds. This month, gaming-focused edtech platform upsurge raised pre-seed funding of $370,000 (around Rs 3 crore) from venture capital firm JCBL India. Also, Toddle, a learning management system startup, raised $17 million in a Series A round led by Sequoia Capital India.
In December 2022, B2B edtech startup Uolo raised $22.5 million in a Series-A funding round led by UAE-headquartered VC fund Winter Capital. Also, Pune-based Classlogic, offering an online teaching cum classroom management app for educators and educational institutes and higher education startup Sunstone Eduversity raised funds.
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