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Kerala based Novoy Software Pvt Ltd, which operates skilling people for jobs through education in vernacular languages through a platform called Entri, has raised funding of Rs 23.5 crore in two tranches.
The first tranche was in February and the second came recently.
In terms of dollars, the Kochi-based company has raised a total of $3.1 million in the recent funding round while it was $1.4 million in February.
The funding was made by investment firm Good Capital.
Entri was founded in 2017 by Mohammed Hisamuddin of Kasargod in Kerala and Rahul Ramesh of Thrissur and is part of the Boston-based ed-tech accelerator LearnLaunch.
The company functions as an educational platform for job aspirants by providing content such as mock and adaptive tests, video lessons and flash cards in Malayalam, Tamil, Telugu and Kannada. These lessons help candidates seeking both public and private sector jobs.
Hisamuddin said users understand a topic better when the content is in their mother tongue rather than in English. “This is the problem Entri is solving,” he added.
The startup will use the fresh funding to produce more content and ramp up marketing operations aiming to attract one crore users.
Other participants in Entri’s funding round include angel investors from India and the US, including HyperTrack founder Kashyap Deorah and BigBasket human resources head Hari TN.
Good Capital partner Arjun Malhotra was quoted as saying that the firm was confident of its investment in Entri because of rapid growth and the large potential of the local language learning segment.
Entri claims to have clocked 100% increase in new users and a 150% growth in revenue since the imposition of a nationwide Covid-19 lockdown in late March.
Other companies in Good Capital’s portfolio include social commerce startups Meesho and Simsim, financial services platform Wealthy and location services company HyperTrack
Hisamuddin had a penchant for start-up during college days and started SMS Gyan which was a hit then.
