Mumbai-based education technology company GreyAtom has raised $1.2 million in its Pre-series A funding round led by early-stage venture capital fund Montane Ventures.
GreyAtom’s existing investor Pravega Ventures, and Ritesh Arora, Co-founder and CEO of BrowserStack, also participated in the round.
Founded in 2017 by Mitul Thakkar, Mayuresh Shilotri and Shweta Doshi, GreyAtom provides an enriching ecosystem for aspiring learners to pivot careers in emerging technologies like Data Science, Machine Learning, Artificial Intelligence and full-stack engineering through an end-to-end rigorous learning and career prep process. The startup upskill learners on its learning platform GLabs with programs that are online, mentor led and practice centred.
GreyAtom has so far enabled more than 35,000 learners to reskill and upskill their tech knowledge till date. As per information on its website, the startup currently has 150,000+ learners, 1,200+ mentors in network, with 10 million+ hours of learning delivered on its platform. GreyAtom plans to use the latest funds for diversifying its product line up to include courses for front end engineering, back end engineering, and automation QA. The company also plans to expand its footprints across the country.
Speaking about the company, Mitul Thakkar, Co-founder and CEO, GreyAtom, said,
“Educational institutes haven’t been able to modify their curriculum so as to impart relevant skill sets to students. GreyAtom bridges the gap between learners and the industry by bringing them together on the learning platform GLabs that provides hands-on coding experience, mentorship and access to a huge peer community.”
GreyAtom’s learning platform, GLabs, orchestrates the end-to-end learner experience – this is where learners code up, follow a structured learning path, and get an instant assessment of their performance. The company’s highly blended learning approach – online learning on the platform and offline interactions with mentors and peer community is what is driving outcomes for the learners. Besides learner engagement and gamification elements built into the platform, GLabs also determines the employability index of a learner and matches a learner with the right job.
Sharing on its programs and how they will help in the company’s revenue, Mitul Thakkar said,
“The newer programs will be launched with an “Income Share Agreement” where there is no upfront payment to be made by the learners, only when they get a job, they share a fixed percentage of their income with GreyAtom. This enables us to create a great amount of trust between us and the learners.”
The company is said to have seen an overwhelming response to their front end engineering program in Income Share Agreement model, and claimed that since its launch in September 2019, more than 4,700 learners have applied for the program.
Commenting on the investment, Josh Bornstein, partner at Montane Ventures, said in a statement,
“We are extremely excited to invest and join GreyAtom’s journey. The founder’s interest in education and their learning product GLabs impressed us the most. GreyAtom’s tech-first approach to skill learners beyond theory by focusing on application and practice enables the company to scale a business that’s typically dependent on instructors or online videos.”
With its mission to democratize emerging tech education by building the platform that guarantees learning outcomes for all learners, GreyAtom aims to impact 5+ million of learners in the next two years.