Edtech start-up Newton School raises $25 mn in Steadview Capital-led round

Bengaluru-based edtech start-up Newton School has raised $25 million in a Series B funding round led by Steadview Capital, the global investment firm whose portfolio includes Indian unicorns Nykaa, Polygon, Zomato and Freshworks. Existing investors Nexus Venture Partners and RTP Global also participated in the round.

Newton School, which aims to build a neo-university for aspiring software developers, noted that the capital raised will be used to accelerate the company's growth and expand its team, technology and brand building initiatives.

Newton School's Series B round follows just a year after it raised $5 million in a Series A round led by RTP Global and angels such as Flipkart's Kalyan Krishnamoorthy, CRED's Kunal Shah, Freshworks' Girish Mathrubootham, Udaan's Sujeet Kumar, and the founders of Unacademy and Razorpay.

Newton School was founded in 2019 by IIT batchmates Nishant Chandra and Siddharth Maheshwari. The start-up provides outcome-oriented learning experiences to freshers and working professionals while enabling people from across India to become highly skilled software developers and have high-paying careers in technology, explained Newton School in an official statement. 

Newton School's founders Siddharth Maheshwari and Nishant Chandra, commented, "This fundraise will enable us to build a strong brand and leadership team while investing in innovative technologies like AI to transform education". 

Commenting on their investment, Puneet Kumar, Managing Director at Steadview Capital, said, "We're thrilled to support Siddharth, Nishant and the Newton School team in realising their vision of a technology-driven neouniversity. In a country where graduates are left with single-digit employability rates despite spending significant amounts of money on education, Newton School's unique model and platform will support the aspirations of millions of Indians by removing location barriers and lowering costs." 

With an aim to provide flexible learning to working professionals, it recently launched a Master's degree program for people from non-tech backgrounds. The firm stated that it is on the trajectory to reach 100 million in annualized run rate by 2023. 

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