The Times of India | Shilpa Phadnis | TNN | March 16, 2016 |
BENGALURU: Infosys co-founder Kris Gopalakrishnan and Hexaware founder Atul Nishar have invested in Bengaluru-based Avagmah that enables universities and distance education providers to make higher education accessible to a broader audience. Avagmah, which means understanding or intelligence in Sanskrit, was founded in 2013 by NIT Kurukshetra alumnus Karthik KS, Sankar Bora, co-founder of Myntra, and Prasad Palla, who previously worked with Microsoft and Informatica. The company has raised $5 million in funding in last 18 months. Avagmah’s existing investors including Lionrock Capital, Singapore, Ganesh Krishnan, serial entrepreneur, and Neeraj Bhargava, founder and CEO of Mumbai-based investment firm Zodius Capital have also participated in latest round.
Avagmah equips universities to enroll working professionals to pursue higher education from remote locations through its SaaS-based technology platform. About 45% of those enrolled on the Avagmah platform are from tier 2 & 3 cities. “Students pursue courses that would supplement domain knowledge, but having a degree is important to get them a job,” said Karthik. Avagmah currently works with three universities — Pondicherry University, Bharathidasan University and Los Angeles-based UCLA Extension. In the last 18 months, it has enrolled 3,651 students. Avagmah offers MBA, BBA courses and other post-graduate degrees like those in finance and human resources. The opportunity is huge as the enrollment ratio for higher education in India is 24% and the government has set an ambitious target of it to grow 30% by 2020. This would practically mean setting up of 1,400 colleges to meet the requirement, which is difficult. Gopalakrishnan said he current brick and mortar higher education system s facing major challenges of excellence and access. – Courtesy /
Avagmah: In keeping with this commitment, we work towards enabling universities and distance education providers leverage avagmah’s state-of-the-art education technology services that we call – ‘avagmah technology platform’ or just ‘ATP’. The ATP is an amalgamation of cloud-based software-as-a-service technology and managed services solutions that enables universities increase reach and appeal of their programmes. With this, we offer a complete bouquet of services that include marketing, student counselling, virtual classroom, student engagement and retention in a seamless manner. The ATP, thus furnishes universities with the desired, comprehensive operating infrastructure they need to reach, attract, enrol, educate, support and graduate students; blending technology with their core i.e. academic curriculum and faculty expertise to extend high quality degree, diploma and certificate programmes to the deserving. – http://www.avagmah.com/