Masai School is a coding boot camp that offers learning programs to create trained professionals. The startup has raised $ 5 million in Series A funding led by Omidyar Network India. Existing investors Unitus Investors, India Quotient, and AngelList India also participated in this funding round.
Masai School, a coding Bootcamp startup, has raised $ 5 million in Series A funding led by Omidyar Network India. Existing investors Unitus Investors, India Quotient, and AngelList India also participated in this funding round. Founded in June 2019 by Prateek Shukla, Nrupul Dev, and Yogesh Bhat, Masai School is open to anyone seeking training in coding. By August 2020, Masai had raised $ 2.5 million in pre-Series A funding. The startup claims to have trained more than 100 students in four batches, with more than 50 percent of students coming from non-science. computing or metropolitan areas. Currently, there are about 500 students studying in Masai. By the end of this year, the team is targeting more than 2,000 students.
The school has been a turning point for many young people. One example is Ashish Raj, 24, who worked as an Uber driver from 9 p.m. to 4 a.m. and still managed to get to his college at 9 a.m. to earn his engineering degree. Hailing from the small town of Munger in Bihar, Ashish had moved to Bhopal to obtain his Diploma in Electrical Engineering. Having been introduced to computers when he was younger, thanks to his uncle’s internet café, Ashish was interested in programming and computers. But preparing for work meant learning more skills, and that’s how he was introduced to the Masai School. Today, Ashish works as an Implementation Engineer at WebEngage.
The duration of the main course is 30 weeks and is designed to empower and train students and prepare them for work. After completing the program, the coding school’s hiring partners spend a week with students to closely screen and short-list candidates they would like to hire. Some of Masai recruiting partners include IBM, Samsung, Urban Company, Instamojo, Propelled, Vyapar, Lendingkart, Paytm, BharatPe, Airmeet, Small case, No Broker, and several others. The startup works on a revenue-sharing agreement (ISA). Instead of charging a fee, Masai School signs an agreement with students, were once the student finishes their course, they have to pay Rs 3 lakh after getting a job (whenever) with an annual salary of at least Rs 6 lakh. The amount will be repaid in installments: 15 percent of the monthly income for three years (until they pay Rs 3 lakh).
Like most educational technology startups, the pandemic acted as a strong tailwind for the Masai school. A report by RedSeer and Omidyar Network India says that the coronavirus pandemic has proven to be one of the biggest game-changers for India’s educational technology sector. Online education offerings for classes 1 through 12 are projected to grow 6.3 times by 2022, creating a market of $ 1.7 billion. While Masai was always online and remote first, they nonetheless provided office space for students who lacked the resources to study without distractions.
News Source: YourStory
