New Delhi: uFaber, among a handful of profitable, bootstrapped Indian edtech start-ups boasting Rs. 100 crore+ revenue run rate, today announced arguably, a first of its kind initiative by any Indian tech start-up to support early-stage and struggling to scale start-ups in the larger tech space. It has set aside Rs. 10 crore from its internal accruals for the same. Besides financial, infrastructure, and operational support, Faber will provide access to its network, customer pool, and related assets for the chosen start-ups. The fast-growing bootstrapped venture has over 2 lakh annual student enrolments, 500+ school and university partners across India, and 3000+ all-women army of work from home trainers, and a revenue run rate of Rs.100 crore.
Announcing the initiative, Rohit Jain, Co-founder & CEO, uFaber, said, “The current euphoria around unicorns which Edtech has many to its credit, hides a harsh reality. There are dozens of early-stage plays in our space who are struggling with product-market fit, go-to-market, scaling and a host of other challenges. Most of them are falling between the edges and out of the purview of the VC and investment ecosystem due to the understandable focus on the visible and already scaled one. It’s unfortunate because their success or scaling will positively impact the Edtech and the education space overall. Having successfully exited our previous venture and bootstrapping uFaber into a 100 crore revenue run rate, we have inside knowledge of what it takes and what needs to be done from a focus and operational perspective. We are open to all options besides support – acqui-hire, acquisition to strategic investment, etc. We have currently identified and speaking to 2-3 start-ups.”
“Being passionate about the education space and how it needs to go beyond the curriculum, we are actively seeking ways in which to contribute. This initiative is borne out of that desire. Having said that, as we look to grow, we may not be able to build or understand many new segments/technologies. We are looking to some of the start-ups we end up investing, partnering, or acquiring to fill that gap for us,” he further added.