Guvi, an EdTech startup that helps students learn coding in their native language, recently announced that it has raised INR 15 crore ($1.9 million) from HCL Group – Vama Sundari Investments. Through this acquisition, HCL plans to create skilled tech professionals in India and abroad. Vama Sundari Investments is a promoter of India’s third largest IT services company HCL Technologies, which recently rebranded itself as HCLTech.
According to the company’s regulatory filing, the board at Guvi has passed a special resolution to issue 1,878 equity shares at an issue price of Rs 79,906 per share to raise Rs 15 crore or $1.9 million from Vama Sundari Investments.
Guvi – founded in 2014 by SP Balamurugan, Arun Prakash, and Sri Devi, offers technical courses such as Web Development, AI module, SQL, and various other courses created by industry experts in vernacular languages like Hindi, Telugu, Malayalam, Tamil, English and Arabic. The platform trains people to build their skill profile in technologies and helps them land in their dream job. Guvi is one of the few companies in India to partner with Elon Musk’s ‘OpenAI’ initiative.
“Through this investment, the aim is to address the critical technical skill-gap across enterprises,” said Shikhar Malhotra, Director-HCL Corporation.
“We are delighted to associate with GUVI to ensure that technology aspirants have ease-of-access to learning and upskilling via holistic courses in the native language they are comfortable conversing in,” added Malhotra.
“We believe this association will be a game-changer for the edtech space servicing audiences in their mother tongue. Also, leveraging HCL’s global network, we are looking forward to empowering a large pool of professionals,” said Prakash, Co-Founder and CEO of GUVI.
