Kerala-based edtech firm Techmaghi receives Rs 20 lakh funding

Education technology firm Techmaghi has received funding of Rs 20 lakh from startup-supporting LJ Knowledge Foundation. It would take forward the Kerala-based company's mission to bridge the gap between industries and educational institutions through up-skilling courses that meet the demands of a modern workforce, a statement said here on Saturday. 

The 2021-founded Techmaghi said the partnership with the Ahmedabad-based LJKF will catalyse the company's expansions towards reaching out to more students and professionals. 

"This funding will allow us to make a more significant impact on cutting-edge education and skill development," said Techmaghi Founder CEO Deepak Rajan. 

The funding from the Gujarat NGO comes as a CCD (compulsorily convertible debenture) for Techmaghi, which functions at the Maker Village at KINFRA Hightech Park in Kalamassery, located about 20 km north of the city, the statement said. 

Launched in 2021 with a modest 30-member team, Techmaghi is today a leading education provider, having trained more than 75,000 students, generating revenue of more than Rs 2 crore, it said. 

The company's primary focus lies in the core engineering fields, equipping individuals with the skills and knowledge necessary to excel in competitive job market. “We attribute much of our success to the support of KSUM,” added Rajan. 

KSUM is Kerala government's nodal agency established in 2006 for entrepreneurship development and incubation activities in the state, the statement added.