Odd Technologies funding round raises $11 million with backing from top VCs Matrix Partners and Lightspeed

• Beyond Odd Technologies secures $11 million funding led by VC firms Matrix Partners and Lightspeed
• Founded by former OYO and Unacademy executive Vivek Sinha, the company aims to address India’s skills gap
• Investors in the funding round include InnoVen Capital and Alteria Capital, along with prominent angel investors
• Emversity, the company’s first initiative, focuses on providing vocational skills-based education for grey-collar job roles
• The platform collaborates with universities to offer bachelor’s degree programs in allied health sciences, integrating industry-relevant skills

Odd Technologies Secures $11 Million Funding

Odd Technologies, a brainchild of former OYO and Unacademy executive Vivek Sinha, has successfully secured $11 million in seed funding. This financing round was spearheaded by renowned venture capital firms Matrix Partners India and Lightspeed Venture Partners. The announcement of this significant milestone was made public on April 18, showcasing the promising future that lies ahead for this innovative startup.

Key Players in the Funding Round

Joining the league of investors in this funding round were prominent names such as InnoVen Capital, a subsidiary of Temasek, and Alteria Capital. Additionally, the backing of angel investors like Ritesh Agarwal (OYO), Gaurav Munjal (Unacademy), and other industry stalwarts further solidifies the confidence in Odd Technologies’ vision and potential for growth. The involvement of such influential figures in the startup ecosystem speaks volumes about the credibility and promise that Odd Technologies holds in the market.

Addressing India’s Workforce Challenges

In a statement regarding the funding, Rajat Agarwal, Managing Director at Matrix Partners India, highlighted the crucial role that Odd Technologies plays in addressing India’s workforce challenges. He emphasized the significance of harnessing the demographic dividend to propel India towards becoming a developed economy by 2047. Through initiatives like Emversity, Odd Technologies aims to equip the youth with the necessary skills to thrive in the workforce and support the growth of emerging industries.

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Harsha Kumar, a partner at Lightspeed, echoed similar sentiments by acknowledging the prevailing talent and skills gap across industries in India. Odd Technologies’ focus on vocational skills-based education and its collaboration with public and private partners signify a proactive approach towards bridging the existing gaps in the education system. By providing students with practical, industry-relevant training, Odd Technologies is not only addressing the demand for skilled professionals but also enhancing the supply of competent workforce in various sectors.

Pioneering Employability Solutions

Founded in August 2023, Odd Technologies stands out as an employability-led, technology-enabled platform that specializes in recruiting, training, certifying, and deploying candidates for grey-collar job roles in sectors crucial for national development, such as healthcare, education, construction, and hospitality. Vivek Sinha’s vision for the company revolves around creating pioneering institutions that prepare the Indian youth for the workforce and contribute to the growth of sunrise industries through a scalable skilled workforce.

Emversity, Odd Technologies’ flagship initiative, serves as a higher education brand that collaborates with universities to integrate industry-relevant skills into traditional degree programs. These courses not only focus on theoretical knowledge but also offer practical training and hands-on experience. One unique feature of Emversity’s courses is the inclusion of ‘built-in income,’ allowing candidates to earn while they learn. This innovative approach ensures that students do not have to wait until the completion of their formal education to start earning a living.

Moreover, Emversity’s curriculum includes ‘work abroad integrated’ modules and extensive placement assistance to enhance students’ employability and global mobility. By offering bachelor’s degree programs in allied health sciences disciplines such as medical laboratory technology, operation theatre technology, emergency medical technology, hospital administration, medical imaging technology, and dialysis technology, Emversity aims to bridge the gap between academic learning and real-world skills demanded by the industry.

Odd Technologies’ recent funding success underscores the industry’s recognition of its innovative solutions and strategic vision for addressing the pressing challenges in India’s education and employment landscape. With the support of esteemed investors and a dedicated team, Odd Technologies is well-positioned to make a significant impact in empowering the workforce and shaping the future of employability in the country.