Professional education company Imarticus Learning Pvt. Ltd has reportedly raised funds amounting to $2 million (Rs 13.9 crore) in Series B funding round. The particular round was led by education-focused venture capital fund CBA Capital.
The company is planning to deploy these funds into the process of expansion of its international operations and strengthen its presence in Mumbai, Delhi, Hyderabad, Bengaluru, Chennai, and Pune. Also, the company is soon looking to foray into three Tier-II locations as well.
“We are thrilled to partner with CBA Capital and successfully close this round of funding. The funding will not only boost the brand’s status as a leading ed-tech company but also help us take it to the next level of growth,” said Nikhil Barshikar, MD, Imarticus Learning.
Founded in 2012 by Nikhil Barshikar and Sonya Hooja, Imarticus Learning provides classroom and online programmes in investment banking and financial courses. The education platform claims to have trained over 30,000 students internationally and aims to reach 55,000 students by 2020.
Talking about the details, the company has over 5,000 students in West Asia (the Middle East), Africa, and Southeast Asia are making use of its online services.
CBA Capital’s founder, Vishal Bharat stated that Imarticus needs sustained support to boost up both online and offline platforms.
“We see great potential in Imarticus Learning’s operational capabilities, its well-crafted educational programs, and its motivated management team ably led by Nikhil and Sonya. With the right resources, Imarticus Learning can accelerate its journey as a global leader in the tech-based up-skilling and cross-skilling domain,” said Vishal Bharat.
With all these funding and acquisitions in the education market, the Indian education market is expected to almost double to $180 billion by 2020 from $100 million in 2016. The digital learning platforms are growing rapidly and it is at a hype at this time.