GUVI raises funding of Rs 1 crore from US-based Gray Matters Capital

GUVI has raised its first institutional round of funding at Rs 1 crore from Gray Matters Capital, a US-based investor. GUVI is an online platform where students learn to code in Vernacular Indian languages and primarily functions as an IT skill acceleration and hiring platform. 

The fresh capital will be used by the edtech platform for creating 1 million coders in India by 2020 through the expansion of GUVI’s video content offerings in vernacular languages and for incorporating further industry relevance in the offerings in a bid to improve the employability of engineering graduates. 

Aarthi Ramasubramanian, Senior Investment Manager, Gray Matters Capital edLABS, said, “We believe that start-ups like GUVI can change paradigm given that it imparts programming skills through videos in regional languages to engineering freshers beyond metro cities. This will not just improve employment prospects, but will also potentially pave the way for more technology start-ups to emerge from Tier II and III centres as coding becomes a critical skill to possess for product efficacy.” 

Arun Prakash, Founder and CTO, GUVI, stated, “Having Gray Matters Capital in our board will be a great support for our overseas expansion to South East Asian Countries.” 

Balamurugan, Co-Founder and CEO, GUVI, added, “The edLABS funding gives us the required fillip to reach our target of 1 million coders by 2020. This will entail tapping into more partners such as engineering colleges in goes beyond Tamil Nadu as well as swelling up corporate recruiters on one front and keeping our video library updated and in sync with the ever-changing trends in technology on the other.”