Noida-based Edtech startup Konfinity, which offers an artificial intelligence (AI) powered platform for software programming courses has secured undisclosed funding driven by A US-based curated closed marketplace for startups and investors, AngelList
The funding round also reported participation from FirstCheque, mCarbon CEO Rajesh Razdan, Jugnoo ClickLabs CEO Samar Singla, founders of health tech startup Curofy and Amit Kapoor, who is a faculty at Harvard Business School among others.
Konfinity will expand its service offerings to around 100 colleges located across 12 cities in the upcoming six months by utilizing fresh funding.
Konfinity was set up in 2018 by Navratn Singh along with Kamal Pandey. The main operation of the company is to provide training to students located across the nation by using AI-powered platform. The platform helps students to become software developers certified in just six months by covering designed modules at home. It also provides placement assistance to the students after completing the course without any additional charge. Currently, it has joined hands with over 12 colleges in India to deliver its services to over 2k students.
The company is currently providing courses in web development, data science, and UI/UX. The company is also planning to add some trending courses such as animation, graphics, IoT and DevOps, and others.
In a press statement, Singh said, “around 150 million vacancies had been opened last year for which candidates needed to have coding skills.. the IT industry witnessed a slump in terms of hiring the right talent.”
Utsav Somani, partner at AngelList said that more than 60% of Indian engineers are unemployed at this moment and most schools and colleges aren’t able to provide coding education as needed by new-age tech companies. According to Somani, Konfinity will play a crucial role to bridge the existing gap of lack of coding knowledge.
According to the latest market study report, the AI in Edtech is about to reach US$6 Billion by 2024. The growth of the AI in Edtech is expected to be supported by the increasing demand for intelligent tutoring systems (ITS) by educational institutions and colleges.