[Funding] ImaginXP raises $1.5 Million from Venture Catalysts as lead investor

EdTech ImaginXP has announced that it has raised funding of $1.5 Million from Venture Catalysts. The company, with funding, aims to accelerate growth in its unique B2B higher education model. Venture Catalysts along with co-investors like Shashank Deshpande, Krish Kupathil, Samyakth Capital and others participated in the round.

The company aims to use the current round of funding to accelerate both offline and online degree programmes. It also aims to hire 500+ faculty and create new disciplines in design, technology and business to get the students ready for the digital world. The company boasts of the students getting placed in companies like Cognizant, EY, 1MG and others.

From the leaders

“ImaginXP has a proven revenue model with universities to help them increase their capacity by providing future skills and a focus on student ROI. The MyCoach platform has such a huge captive TAM. Further, online degrees have digitally accelerated the company to a 3 times growth trajectory over the last 2 years. The impressive hold over the higher education market led us to partner with the team,” says Anuj Golecha, Co-Founder at Venture Catalysts.

Shashank Shwet founded the platform in 2013. Prof (Col) Shishir Kumar leads the startup as its Director-General. The startup aims to close the employability gap with its industry-driven courses in the field of AI, Data Analytics, health-tech, fintech, etc. “ImaginXP is partnering with universities to give them access to a world-class curriculum with an industry partnered delivery model. The success of universities is also the success of ImaginXP,” explains Prof. (Col) Shishir Kumar. “We aim at making our partners feature in the top 500 universities of the world” he also said. ImaginXP also provides B.Des (Bachelor of Design), M.Des (Master of Design), BBA, MBA, BSc and BTech degree programmes in partnership with universities. In line with the recommendations of the IIT panel to the ministry of HRD, the company also aims at creating a professor of practice for future skills in its partner universities.

“3.7 crore students in India pay $7Bn in tuition fees. Our mission is to provide them with global quality education at university campuses and online courses. Our test of time was during the pandemic when the traditional university model got disrupted. We quickly scaled up our digital platform MyCoach to provide for-credit courses to the universities and engage the students on their behalf. This company is a fantastic blend of corporate & academia; online and offline,” further adds Shashank Shwet, Co-founder, ImaginXP.