AltUni by InsideIIM has raised $500K from Indian Angel Network (IAN) and a host of angel investors. The alternative digital university has over 4000 alumni in 36 months who have gained skills needed to excel in a digital business.
The company has an ARR of Rs 12 crores and is operationally profitable. This is the second time that the company has raised money after Feb 2022 and it has raised $1 million so far.
IAN led this round and many angel investors from the last round have doubled down on their bet. Distinguished angels to participate in this round are Vishesh C Chandiok, CEO of Grant Thornton Bharat LLP, Ganesh Balakrishnan, Harsh Parikh, Narayan Babu, Supreet Singh, Ashvin George, Prashant Mohanraj, Shreyans Mehta, Amit Monteiro, Raghav Joshi, Mainak Shome, Bhoopesh Jain, Sandeep Bhadresa among others.
The capital raised will be deployed for further developing its online platforms (insideiim.com, insidekampus.com and AltUni.in) and strengthening community engagement to make India’s youth industry-ready. The company is among few start-ups in the country to have more than 50% women in the team.
Launched in 2020, AltUni provides affordable short modules of immersive online learning courses instead of remote learning programs that stretch endlessly and become redundant with passage of time. It does not offer degrees or diplomas but facilitates a connection between learners and industry leaders, and provides opportunities to interview with India’s top companies.
Every program offers a live industry project and personalised counselling. Currently, AltUni programs are focused in helping candidates build careers in business and management.
Padmaja Ruparel, co-founder at Indian Angel Network (IAN), said, “AltUni's dedication to addressing the challenges in the higher education sector aligns with our mission to support innovative solutions. We are confident that this investment will help AltUni further its mission and bring about positive change in the education landscape.”
Ankit Doshi, founder of AltUni by InsideIIM, said, “For years, India has been the capital of unemployable candidates with paper degrees. We believe its time to make India the skills capital of the world. Our company mission is to enhance India’s human capital. College education is not sufficient to be employable at a time when Artificial intelligence is threatening the existence of many jobs.”
AltUni helps early career professionals and college students gain skills that will future proof their careers for the next decade. It also offers personalised mentorship so that candidates can navigate an uncertain job market with expert help.
The start-up owes its rapid growth to the InsideIIM.com community, an MBA platform catering to over 400K users every month, and around five million unique users every year. The platform’s YouTube channel garners over 10 million views every year. This community is the backbone of AltUni and helps AltUni acquire users at zero cost.
Founded in 2006, IAN brings together successful entrepreneurs, investors, and industry experts to support early-stage start-ups. IAN provides not only capital but also mentorship, network access, and strategic guidance to help start-ups grow and succeed.
