City-based ed-tech startup Newton School on Wednesday said it has raised $650,000 in a seed round of funding led by early-stage venture capital firm Nexus Venture Partners.
Newton School will use the raised capital to strengthen its product and expand its team.
“While software engineering is one of the highest paying and fastest-growing career paths, access to quality software development training remains limited to students of a few top colleges. With our unique pay after placement online platform we are democratizing software development training and allowing people to cross financial and location barriers to achieving their dream of becoming a great software developer,” Newton School Co-founder Siddharth Maheshwari said.
Newton School was founded in 2019 by serial entrepreneurs and college friends Nishant Chandra and Siddharth Maheshwari.
With a highly capital-efficient business model, Newton School is close to break-even just after a few months of operations and is on the path to becoming profitable in the next couple of months. “We already have 500 students studying on the platform in parallel and we plan to scale it to 10,000 within next year thus having larger intake than all IITs combined,” claimed Nishant.
The coming months will see Newton School deploy this funding round to further evolve its platform and increase its user capacity to handle thousands of simultaneous learners, the company said.