By Prasoon Srivastava
IIM Lucknow’s start-up incubation arm IIML-EIC is in advance stages of discussion with edtech firm Just Rojgar to buy a small stake in the company at an enterprise valuation of Rs 75-80 crore as part of its seed funding round.
Just Rojgar founder and director Abhishek Ratan Chola told PTI that funds raised from IIM Lucknow- Enterprise Incubation Centre (IIML-EIC) will be invested in the company’s Just Learn edtech platform.
“We are in advanced stages of discussion with IIM-EIC for a seed round funding. The investment is coming for our brand Just Learn which focuses on providing 21st-century learning for employability enhancement aligned with Industry 4.0,” Chola said.
He said that Just Learn has already provided employability training to over 5 lakh people across India and has connected the skilled workforce with Industry 4.0.
“Currently, we have over 15 employees on our payroll. We will utilise the fund raised for HR expansion and making VR courses aligned with Industry 4.0,” Chola said.
When contacted, IIML EIC said that Just Rojgar is incubated at IIM Lucknow Enterprise Incubation Centre and as a standard policy IIML EIC is exploring seed funding support to Just Rojgar.
“Discussions are under process. The negotiated valuation of the startup basis its current state would range from Rs 75 crore to Rs 80 crore. Exact funding amount and final valuation could be known in coming weeks,” IIML EIC said.
Founded in 2020 by Abhishek Ratan Chola and Aakriti Chaudhary, Just Learn works in B2B mode with the government and private organisations across industries and bridges the gap between the industry-requirements and the existing skillsets of the masses of the Indian workforce.
Just Learn has also expanded into international markets and started working in the Netherlands.
“This year, we plan to enter the Middle East, South East Asia markets. Just Learn is also launching courses in the B2C (business-to-consumer) market to provide futuristic employability learning,” Chaudhary said.