Mumbai: Bengaluru-based impact investing fund Unitus Seed Fund said on Monday that it has invested an undisclosed amount in iStar Skill Development Pvt. Ltd, a skills training company. This is the second round of funding that the company has received from Unitus since 2013.

The company, founded in 2010 by Surga Thilakan and Sreeraman Vaidyanathan, aims to use the funds to expand its operations to other cities and strengthen its technology solutions. It is in process of doing skill development project for the department of higher education for the government of Kerala, according to an official statement from Unitus Seed Fund.

“With nearly 20 million undergraduate students in arts and science, iSTAR’s training programme has the potential to train a student in a remote location and provide opportunity that she otherwise could not reach" said Will Poole, managing partner at Unitus Seed Fund.

India is expected to be home to a skilled workforce of 500 million by 2022 and 12 million are expected to join the workforce every year, according to a report by credit rating agency ICRA and industry lobby FICCI.

iStar aims to train undergraduate students to make them employable by using tailor-made curriculum at a time when about 85% of the graduates are unable to get desired career outcomes due to poor pedagogy, outdated content and lack of industry relevant training.

Since its inception, the company has expanded its footprint to 150 colleges across three states and 17 districts with over 150 trainers for more than 17,000 students.

My Reads Logout