Monday, July 15, 2024

Bridging the Skills Gap: Former Unacademy COO’s New Edtech Venture Beyond Odds Technologies Raises $11M in Seed Funding


Former Unacademy COO Vivek Sinha Rakes In $11 Mn For His New Edtech Venture

In a significant move that underscores the growing focus on bridging the skills gap in the workforce, Vivek Sinha, former Chief Operating Officer of Unacademy, has launched a new venture, Beyond Odds Technologies. This new platform has successfully garnered seed funding of $11 million, a collaborative investment led by Matrix Partners India and Lightspeed India.

The seed round also welcomed contributions from an impressive roster of other investors. Among them are InnoVen Capital, Alteria Capital, notable personalities such as Ritesh Agarwal, founder of Oyo; Gaurav Munjal, founder of Unacademy; Mayank Kumar, founder of upGrad; Ramakant Sharma, founder of Livspace; and Sumer Juneja, a partner at SoftBank. Not stopping there, the company enjoys the backing of key industry figures including Abhishek Goyal, founder of Tracxn; Rohit MA, founder of CloudNine Hospitals; Puneet Kumar, managing director at Steadview Capital; and Abhinav Sinha, COO of OYO.

Located in Bengaluru, Beyond Odds Technologies is setting its sights on revolutionizing the employment landscape for the grey-collar workforce. Through providing employability-led training, certification, and recruitment services, the platform aims to address the critical shortage of skilled labor across various sectors such as healthcare, education, hospitality, and construction. This initiative promises to ensure that candidates not only receive high-quality training but also enjoy scalability and standards that meet industry needs.

The platform is also proud to introduce ‘Emversity’, its higher education brand. Emversity collaborates with renowned universities to offer bachelor’s degree programs in the allied health sciences stream, aiming to equip students with the necessary skills and qualifications for a successful career.

Speaking on the new venture, Vivek Sinha stated, “Our platform will address the shortages in skilled workforce in both domestic and global markets by creating high-quality supply from India. Our courses also come with ‘built-in income’, enabling candidates to start earning without having to wait for the completion of their formal higher education.”

Beyond Odds has chosen to exclusively focus on the healthcare industry for the current academic year, indicating a strategic entry into one of the most vital sectors in need of skilled professionals.

Rajat Agarwal, Managing Director at Matrix Partners India, praised Sinha’s dedication and vision, “With our long-standing acquaintance with Vivek, we commend his grasp of the issue and capacity to establish pioneering institutions.”

Harsha Kumar, a partner at Lightspeed, highlighted the innovative approach of Beyond Odds, “By enabling vocational skills-based education among students in partnership with public and private partnerships, they’re solving both the demand and supply problems in college education today.”

The launch of Beyond Odds Technologies signals a new chapter for Vivek Sinha, following his resignation from Unacademy in August. Reflecting on his journey, Sinha shared, “After three incredible years at Unacademy, I have decided to take the next step in my career. Grateful for the opportunities, friendships, and memories I have gained.”

As the edtech sector continues to evolve, ventures like Beyond Odds Technologies are stepping up to address the critical challenges facing education and workforce development today. Through innovative platforms and strategic collaborations, the future of skilled labor across various industries looks promising.

Alex Sterling
Alex Sterling
Alex Sterling is a seasoned journalist with over a decade of experience covering the dynamic world of business and finance. With a keen eye for detail and a passion for uncovering the stories behind the headlines, Alex has become a respected voice in the industry. Before joining our business blog, Alex reported for major financial news outlets, where they developed a reputation for insightful analysis and compelling storytelling. Alex's work is driven by a commitment to provide readers with the information they need to make informed decisions. Whether it's breaking down complex economic trends or highlighting emerging business opportunities, Alex's writing is accessible, informative, and always engaging.

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