ByteXL, an experiential learning platform for IT career aspirants, has raised $200,000 in an angel round from Joseph Joy, President of Joy Family Investments from the USA, along with others.
According to a press statement, the fresh funds will be utilized to enhance the content, improve product portfolio, and grow its sales and marketing team, among other things. The company is also looking to expand its India operations to Maharashtra, Karnataka, Punjab, and other northern parts of India.
ByteXL is the first-ever learning platform with an in-built advanced coding editor for self-motivated education, guided training, and placement support. It helps students cope with the sudden shift in the learning pattern to ensure continuous education. The platform provides new skills and upgrades existing ones among its users.
Founded in December 2019 by Karun Tadepalli, ByteXL aims to provide an unparalleled combination of self-learning coursework and guided training to bring job readiness along with graduation for every student. It claims to have a 78 percent renewal rate and is active among 42,000 students across 55 colleges. The platform's engagement rate stands at 75 percent.
Commenting on the funding, Karun Tadepalli, Co-founder and CEO of ByteXL, said,
"We are elated with the investors' belief in our vision to create an ecosystem which will help streamline the online education sector in India. In the next 10 years, India is likely to employ 16 million engineers and currently, about 93 percent of engineering graduates in India are not equipped enough to enter the IT industry. That’s the reason ByteXL is aiming to increase the employability quotient of the country by enabling IT career readiness in students from day one of their graduations. Emerging technologies assistance from industry experts will help the graduates to enter their first job with adequate skills and training for the job [and] will speed up their onboarding process."
ByteXL makes students career-ready with the right upskilling and empowers them to compete with the world's best tech giant. The startup provides students unlimited access to tech learning resources through a subscription model, at a price that everyone can afford.
Joseph Joy, President, Joy Family Investments, said,
"EdTech is an important aspect of an educational institution, and we are confident that the domain knowledge, which the ByteXL team has, is worth appreciating. The technical ability and contribution by ByteXL will help the platform bridge the gaps in the current EdTech ecosystem with its inventive approach to make e-learning possible and to become a strong market player in the space in the coming years."
ByteXL, which also has its office in Hyderabad, has partnered with one of the leading cyber security companies in the world, Fortinet, to train and certify students in the application and penetration testing. The company has also partnered with Leading Indian AI (an initiative to promote and teach artificial intelligence) and various companies to help students with placements to start a career based on their individual skills and interests.