New Delhi-based edtech startup Coding Ninjas, on Wednesday (February 12), announced that it has raised INR 37.10 Cr ($5.2 Mn) in a Series A funding from Info Edge, the parent company of online job listing platform Naukri.
With the recently raised funds, the startup plans to scale operations and hire new professionals in tech and content teams. The funding will also be used in expanding business in newer geographies. “As Naukri is one of the major recruitment platforms, the partnership will boost the placement side of our business,” said Ankush Singla, cofounder of Coding Ninjas.
Founded in 2016 by Singla, Kannu Mittal and Dhawal Parate, Coding Ninjas offers online computer language courses that are used to design applications, software, etc. It also offers educational courses related to new-age technologies such as artificial intelligence (AI), machine learning (ML), etc.
Moreover, Coding Ninjas is also planning to invest funds in its new offering Career Camp. Launched in 2019, Career Camp is a six-month-long online training programme that offers an option for students to pay for their fees from their salaries upon receiving a job offer.
Coding Ninjas also offers a unique teaching assistant model which helps in addressing doubts of students in real-time. Ex-students of Coding Ninjas can also help current students in their doubt-clearing sessions.
Besides Coding Ninjas, there are various other edtech players in the space, which are offering similar courses. However, Coding Ninjas has differentiated itself from others by offering these courses in Hindi as well. The startup claims to have provided education classes to over 20K students. It also claims to have more than 2000 professors registered on the platform.
Info Edge’s CEO Hitesh Oberoi said that there are long term synergies between skill-based education and recruitment and this partnership allows the company to enter this segment.
According to DataLabs by Inc42’s latest report “The Future Of India’s $2 Bn Edtech Opportunity Report 2020”, a total of $1.802 Bn was raised by edtech startups across 303 deals between 2014 and 2019.
Among the edtech startups which have driven this growth in India are belong to K-12 and test prep segment, with certification products and services following.
In the edtech space in India, Coding Ninjas competes against Acadview which helps fresh graduates to enhance their employability by upskilling them with in-demand technologies through online live courses and industry projects. Acadview was acquired by Mumbai-based edtech startup UpGrad in October 2018. Other players in the space include Konfinity, Harappa Education, GreyAtom, among others.