ImaginXP, an edtech startup, has raised $1.5 million (nearly Rs 11 crore) in a fundraising exercise.
The round in Pune-based ImaginXP was led by startup incubator and accelerator Venture Catalysts, it said in a statement. Other participants include Samyakth Capital, Krish Kupathil, and Shashank Deshpande.
ImaginXP, operated by Giggle Galaxy Pvt Ltd, was set up in 2013 by Shashank Shwet and is led by Shishir Kumar. The company says it is helping universities provide degree programmes. It also offers courses with a corporate-led curriculum.
The startup operates the MyCoach platform, which brings over 1,250 coaches who provide mentorship and live projects for students. Some of the courses include those on design, business administration, sciences, and technology.
Currently, ImaginXP says it has partnered 22 universities across the country and employs more than 70 full-time faculty members. It also has 2,500 students studying in full-time degree programmes, with more than 15,000 using the MyCoach platform.
According to VCCEdge, ImaginXP reported net sales of Rs 2.02 crore for the 2018-19 financial year, up from Rs 1.11 crore the previous fiscal.