Private Equity

PE Fund Investments

Skilling platform Masai School raises Rs.39-Cr from existing investors

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Bengaluru-based edtech startup Masai School has raised INR 38.62 crore (USD 4.77 million) in a pre-Series B2 round co-led by existing investors India Quotient and Omidyar Network (via On Mauritius). Masai School offers training in full-stack web development, backend development and data analytics courses to make students job ready. Masai School will issue 2,403 pre-Series B2 compulsory convertible preference shares (CCPS) at an issue price of INR 1,60,707 per share to raise INR 38.62 crore (USD 4.77 million). India Quotient and On Mauritius have co-led the financing round by infusing INR 15.81 crore (USD 1.95 million) each. Unitus Ventures also participated in the round with INR 7 crore. Post-allotment, the company has reportedly been valued at around INR 400 crore (USD 50 million). Including this round, Masai has raised over USD 12 million to date. In October 2021, it raised capital from more than 20 angel investors. Post-allotment, co-founders Prateek Shukla, Nrupul Dev and Yogesh Bhat collectively hold 39.58% stake followed by India Quotient which commands 21.63% in the company. On Mauritius and Unitus Ventures own 17.77% and 15.58% stakes respectively. The company's revenue from operations jumped 4.7X to INR 2.47 crore in FY21 from INR 53 lakh in FY20.

From the Venture Intelligence PE-VC Deal Database: Between May-2019 and Mar-2021, Masai School had raised over USD 8 M from India Quotient,Unitus Ventures,Omidyar Network (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)