Mumbai based Unstop (formerly Dare2Compete), a community & hiring platform, is raising $5 million in the first round of funding led by Japan’s Job board Myanvi and digital learning platform Course ra, reported multiple media outlets.
The other investors who participated in this round of funding include Venture Catalysts and 9Unicorns, and Pankaj Bansal through his fund Caret Capital.
To recall, in February this year while pitching in a TV reality show Shark Tank India Season 2, Unstop had declined the offer of ₹5 crores for 10% equity from one of the show judges, Amit Jain, Founder of CarDekho Group. Eventually, Amit Jain finally agreed on investing ₹2 crores for 4% equity.
Founded in 2016, by Ankit Aggarwal, Unstop provides opportunities to students and professionals across all domains to engage with institutes and companies by participating and competing in intellectual gamified engagements like Innovation and Case Challenges, Hackathons, Quizzes, Business Simulations, etc. to showcase their talent and get hired, recognized, and rewarded.
The platform plans to utilise the funds raised to enhance its technology and invest further in marketing, products and sales functions.
The fundraise will help Unstop create a facility where brands can match their skills requirements while engaging and recruiting talent across domains, such as engineering, MBA, arts, science, commerce, and more.
About Mynavi, the Japanese group has recently participated in $1.3 million funding round of Geekster, a Career-focused Edtech Platform.
Earlier Mynavi had invested in India's venture capital firm Unitus Ventures Opportunity Fund I, in March this year. Later in the same month, Mynavi acquired People Matters, the fastest-growing media platform and community for HR and Talent leaders in India & APAC, as a subsidiary. This was the first time Mynavi has had acquired an Indian company as a subsidiary.
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