Rs.15 crores or $1.9 million was raised by Edtech startup Guvi from Vama Sundari Investments. It is a promoter of HCL Technologies, which rebranded itself as HCLTech. This investment came into the company almost two and a half years later from its last funding. The startup raised Rs.6 crore in its pre-series A round from, Education Catalyst Fund, which is an education-focused venture capital fund managed by CBA Capital.
For raising funds from Vama Sundari Investments, the board at Guvi passed a special resolution for issuing 1,878 equity shares at a price of Rs. 79,906 per share to raise Rs.15 crore. The fresh proceeds will be used to meet capital expenditure and general corporate purposes, says Guvi. The company has been valued at around Rs.134 crore post allotment as per Fintrackr’s estimate. US-based investor Gray Matters also invested in Guvi in April 2019.
Guvi offers technical courses like Web Development, AI module, SQL, and various other courses created by industry experts in vernacular languages. The company was founded by- Arun Prakash, SP Balamurugan and Sri Devi in 2014 and incubated by CIIE (IIM Ahmedabad) and IIT Madras.
