Mumbai-based, EduBridge which provides provides skill development service to youths in semi-urban and rural areas, has raised $2.5 million in its Series A round of funding, led by Insitor Impact Asia Fund and existing investor, Acumen Fund.
The raised capital will be used to expand operations to Gujarat, Odisha, Jharkhand and Bihar.
The company was founded in 2009 by a group of IIM alumni with an aspiration to transform the lives of unemployed youth in semi-urban and rural areas by helping them with skill development training.
Commenting on the development, Girish Singhania, CEO, said, We also plan to spend on integrating various technological applications into our system, improving accessibility of our services in rural India.
EduBridge mainly offers four services – TeamBridge, EmployBridge, SkillsBridge and Projects. It has partnered with over 50 colleges and universities, claims to have 67% placement for its students.
The motive of TeamBridge is to establish, manage and operate skill development centers across India to act as a bridge between unemployed youth and the industries seeking skilled manpower. The EmployBridge program is a high-quality training program specifically designed for college students.
SkillsBridge provides customized Soft-Skills / Behavioral Skills training workshops for entry-level, mid-level and senior level professionals. Projects is initiated by the Government, and offers intensive training to the unemployed youth in villages/small towns after which they are given access to job opportunities.
The startup currently has 60 training centres in the north east, south and western India. It claims to have trained more than 50,000 unemployed youth from rural India over the last five years.
EduBridge has also entered into a partnership with National Skill Development Corporation (NSDC) to help to skill India’s rural and semi-urban youth.