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Tag: Funding

byteXL Raises dollar5.9M Series A to Enhance Student Learning and Employability

Mumbai, 18 July 2024 — byteXL India’s rapidly growing edtech platform focused on revolutionizing engineering education, has secured $5.9 million in Series A funding. The round was led by Kalaari Capital as lead investor, along with the Michael and Susan Dell Foundation. This investment highlights byteXL’s mission to provide high-quality, affordable tech skills to engineering students in tier II and tier III cities across India and acknowledges the company’s impressive growth over the past four years.

Co-founder CEO Karun Tadepalli (Left) and Sricharan Tadepalli - co-founder CSO (Right)_

The new capital will be used for team expansion, product development, the introduction of new digital tools and technologies, and outreach to more colleges and universities across the country.

Since its inception, byteXL has partnered with over 26 colleges and universities across India, training more than a lakh student in various software technologies including programming, emerging technologies like cybersecurity, full stack development, cloud technologies etc. These efforts have led to higher placement rates and increased student intake for their partner institutions. Recently, byteXL collaborated with Microsoft to introduce a new B.Tech CSE course in Artificial Intelligence and Machine Learning, designed to meet current industry demands.

Karun Tadepalli, CEO and Co-Founder of byteXL, stated, “At byteXL, we’re not just teaching coding; we’re shaping futures and driving innovation in tech education across India. This funding will boost our confidence in empowering engineers of tomorrow with cutting-edge skills and technologies and help us bridge the gap between academia and industry at a faster pace.”

Sampath P, Partner at Kalaari Capital, said, “Engineering schools in India and other markets are evolving to maintain high standards of curriculum, pedagogy and industry readiness in technology disciplines that are rapidly evolving. This need, accelerated by rapid progress in AI, is a critical problem to solve to enable students to succeed in the next generation of technology jobs. ByteXL is committed to being a true partner for universities and colleges, with operational expertise, high-quality educators and an interactive digital learning platform. Karun, Charan and team have spent a long time understanding the core needs of each stakeholder involved in the delivery of technology and curriculum and are deeply committed to improving learning outcomes and the quality of tech talent in India. We are excited to partner with them on this mission.”

Sanjay Modi, Senior Director, Michael & Susan Dell Foundation adds “byteXL is transforming the teaching and learning of engineering colleges in India. By bridging the gap between academia and industry, it is set to make a significant impact on the lives of students in tier II and tier III cities. This investment is aligned with our objectives of enhancing quality education and bridging the gap between academic learning and industry demands.”

Legitify Secures Euros1.5 Million in New Funding Round

Legitify, the online notarization solution, proudly announces the successful close of a €1.5 million funding round. This significant milestone is led by Verb Ventures, with key contributions from Enterprise Ireland, Actium Partners, Redbay Ventures, and other investors, marking a strong vote of confidence in Legitify’s innovative approach to simplifying and streamlining notarization processes.

Legitify 1

Founded in the autumn of 2020 in Stockholm, Sweden, by co-founders Aida Lutaj (CEO) and Arko Ganguli (CPO), and headquartered in Dublin, Ireland, the company is previously backed by Antler, NDRC, and Alchemist Accelerator. Legitify has quickly established itself as a leading remote online notarization solution in Europe and beyond. The company empowers both enterprises and individuals to effortlessly certify and notarize documents online, transcending traditional jurisdictional boundaries and transforming in-person processes with a sleek, intuitive, and cost-effective online solution.

Legitify’s impact is already evident, with many notable leading enterprises and professional services firms across over 40 geographies leveraging the solution for their notarization needs. The company is setting the new standard for online document certification and notarization across Europe and beyond, servicing over 1100 customers to date, and spanning sectors from financial services, legal services, consulting, real estate, and more.

Aida Lutaj, CEO of Legitify, shared her enthusiasm: “This funding round, spearheaded by Verb Ventures, represents a significant leap forward for Legitify. It not only reinforces our commitment to making cross-border legal processes smoother and more accessible but also paves the way for us to expand our product offering, introduce AI-powered enhancements to our solution and broadening our operational reach. We’re excited to solidify our position as a leader in tech-enabled notarization and essential business services as we continue to expand into new markets.”

Alexander Chikunov, Founding Partner at Verb Ventures, echoed this sentiment, noting Legitify’s impressive trajectory: “In a remarkably short time, Legitify has emerged as a frontrunner in providing a seamless notarization solution to professionals across various industries. Their innovative platform addresses a critical need in a market that sees billions of certifications and notarisations annually. We’re thrilled to support Legitify’s growth ambitions and their journey to introduce new products and solutions to their customers.”

Donnchadh Cullinan, Department Manager ICT HPSU at Enterprise Ireland, adds:

“We are delighted to support Legitify as the company continues to remove the complexity and barriers to notarisation processes for individuals and companies through their innovative online notarisation solution aiming to simplify cross-border transactions. Legitify facilitates the seamless processing of certifying and notarising legal documents online remotely across different jurisdictions, helping business to grow globally. This is an exciting growth phase for the company, and we look forward to working with the Legitify team on its ambitious plans.”

Javier Extebeste, Chairman of Rebay Ventures, shares: “We believe that superior products develop superior businesses. Legitify and its founders accumulate the drive, user understanding and legal expertise to build superior products and continue as a frontrunners in the massive digital notarisation market.”

As Legitify embarks on this exciting new chapter, the company is poised to further disrupt the legal tech market and redefine the standards of efficiency, accessibility, and security in online notarization services and broader legal processes.