Kunal Shah-Masai School, which offers courses in software development and data analytics, has raised $10 million in a Series B fundraising round led by Omidyar Network India, with sporting stalwarts Mithali Raj and Bhaichung Bhutia also joining as investors and partners.
Raj and Bhutia's investment in the round was not disclosed by Masai School. Raj and Bhutia will also make two scholarships available to Masai School students. A total of Rs 1.5 crore in financial help will be made available to Masai School students each year through the two scholarships—Mithali Raj Scholarship for Women in Technology and Bhaichung Scholarship for Extracurricular Excellence. The scholarship would be awarded based on academic performance and extracurricular activities, Masai School said in a statement on November 8.
“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,” Raj said at a press briefing in Bengaluru on November 8.
Masai School's existing institutional investors, including India Quotient and Unitus Ventures, also took part in the Series B funding. Alteria Capital, a new investor, also participated in the round. The valuation at which the funds were raised was not disclosed by the company.