Pay-after-placement institute, Masai School on Tuesday announced raising USD ten million in a series B round, which also saw participation from Indian sports stalwarts Mithali Raj and Bhaichung Bhutia as investors and partners.
The round was led by Omidyar Network India, along with existing investors including India Quotient and Unitus Ventures, with the addition of Alteria Capital.
The career institute, which offers software development and data analytics programmes, designed to train and mould learners into skilled and job-ready professionals, currently has 7,000-plus enrolled students.
"We are looking to basically become the world's largest outcome-driven educational institute in the next two years which will be graduating and placing 25,000 students every year," the start-up's CEO and Co-founder Prateek Shukla told PTI.
Learners are enrolled at zero upfront fee.
"Once they graduate and placed, which is start getting the salary which is Rs five lakh or more per annum, then only they pay us fees. If they don't get Rs five lakh or more per annum job, they don't pay us a single paisa fee," he said.
Mithali Raj said: "The common thought in India is that when a woman chooses her sporting career, her personal life takes a backseat. However, with Masai, every individual gets yet another chance to have another career option apart from sports and excel in it." Bhutia commended Masai for creating India's largest outcome-driven higher education institute that identifies untapped talent and makes them job-ready through pay-after-placement mode.
The two sports icons also announced Mithali Raj scholarship for women in tech and Bhaichung scholarship for extracurricular excellence, which will make available Rs 1.5 crore in financial aid for students studying at Masai per year.
The scholarship would be distributed based on academic performance and extracurricular credentials, respectively, it was stated.
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