Bengaluru-based business-to-business (B2B) edtech startup AntWalk on Wednesday said it has secured a Series A funding of $7.5 million (around Rs 58.5 crore) led by GSV Ventures, with participation from Y Combinator and existing investor Matrix Partners India.
The company plans to deploy the fresh proceeds to boost its learning platform, build content pedagogy and scale up sales and marketing team.
AntWalk, established by Joybroto Ganguly, Basav Nagur, Sriramkumar Sundararaman, Sumit Gupta and Sudhanshu Shekhar in 2019 helps firms accelerate and transform their learning and development model, paving the way to continuous learning for professionals.
“We are on our way to building an edtech company focused on the global skilling opportunity, by leveraging the power of collaborative learning and are excited to partner with GSV Ventures on this journey,” said Joybroto Ganguly, co-founder and chief executive officer, AntWalk.
"We have doubled down on our investment in AntWalk as they strive to re-imagine the corporate learning market globally,” said Rajat Agarwal, managing director, Matrix Partners India.
San Francisco-headquartered GSV invests in technology entrepreneurs creating scaled solutions in the “PreK to Gray” digital education and skills market. The venture capital firm has backed edtech unicorns like PhysicsWallah and LEAD.
“We look forward to working with a team (AntWalk) that brings passion and purpose to one of the toughest challenges in the corporate world – reskilling and upskilling employees to match dynamic job demands”, said Deborah Quazzo, managing partner of GSV Ventures.
This year, two edtech startups - PhysicsWallah and LEAD - have turned unicorns in India.
PhysicsWallah joined the unicorn race after raising $100 million (around Rs 777 crore) in its Series A funding round, while LEAD has raised $100 million as a part of its Series E funding round led by WestBridge Capital and GSV Ventures at unicorn valuation. A unicorn is a startup with a valuation of over $1 billion.