Exclusive: Masai School raises nearly $5 Mn led by existing backers
Summary
Edtech startup Masai School has raised Rs 38.62 crore or $4.77 million in a pre-Series B2 round co-led by India Quotient and On Mauritius. The fresh funding has come after 12 months for the Bengaluru-based company.The board at Masai School has passed a special resolution to issue 2,403 pre-Series B2 compulsory convertible preference shares (CCPS) at an issue price of Rs 1,60,707 per share to raise Rs 38.62 crore or $4.77 million, company regulatory filing with the Registrar of Companies (RoC) shows.India Quotient and On Mauritius have co-led the financing round by infusing Rs 15.81 crore ($1.95 million) each. In October 2021, it picked up an undisclosed amount from more than 20 angel investors.Masai School is a higher education career institute which trains young talent for some of the most in-demand jobs. Several startups and unicorns like ShareChat, Swiggy, Ola, Meesho, CoinSwitch Kuber, Cleartrip, NoBroker, and Paytm recruit from the Masai platform.Post allotment of the round, co-founders Prateek Shukla, Nrupul Dev and Yogesh Bhat collectively hold 39.58% stake followed by India Quotient which commands 21.63% in the company. The complete shareholding pattern of the company can be seen below:Masai School recently claimed that it witnessed a 10-fold growth in the number of B2B hiring partners in the past 12 months.