Beyond Odds Technologies Launches with $11 Million to Bridge Workforce Skills Gap

Vivek Sinha, a seasoned executive who formerly held the position of Chief Operating Officer (COO) at Unacademy, has embarked on a new entrepreneurial journey with the launch of Beyond Odds Technologies. The company secured a promising start by raising $11 million in its initial funding round. This seed funding round was co-led by two prominent investment firms, Matrix Partners India and Lightspeed.

Strong Investor Backing Fuels Ambitious Vision

Beyond Odds Technologies’ funding round garnered significant interest from a diverse group of investors beyond the lead firms. InnoVen Capital, a subsidiary of the investment giant Temasek, and Alteria Capital participated in the round alongside a distinguished group of angel investors. This impressive roster of angel investors included well-known figures from the Indian startup ecosystem, such as Ritesh Agarwal (Founder of OYO), Gaurav Munjal (Founder of Unacademy), and Mayank Kumar (Founder of Upgrad). Additionally, prominent industry leaders like Ramakant Sharma (Founder of Livspace), Abhishek Goyal (Founder of Tracxn), Rohit MA (Founder of CloudNine Hospitals), and Sumer Juneja (Managing Partner at SoftBank) demonstrated their confidence in the company’s potential. Financial heavyweights Puneet Kumar (Managing Director at Steadview Capital) and Abhinav Sinha (COO of OYO) also joined the funding round, solidifying Beyond Odds Technologies’ financial backing.

Addressing the Grey-Collar Workforce Gap

Headquartered in the bustling city of Bengaluru, Beyond Odds Technologies aims to tackle a critical challenge in the Indian workforce landscape – the gap between the demand for skilled workers and the available talent pool. The company offers a unique solution by providing a combination of employability-focused training programs, relevant certifications, and streamlined recruitment services specifically designed to cater to the grey-collar workforce segment. This initiative acts as a bridge, efficiently connecting students with potential employers seeking qualified personnel.

Emversity: Empowering Students with Industry-Ready Skills

Beyond Odds Technologies is set to launch Emversity, a brand dedicated to providing high-quality higher education opportunities. Emversity will open its first physical learning center in Bengaluru on April 20th, 2024. The company has ambitious expansion plans, with the intention of establishing six additional centers across major Indian cities including Hyderabad, Delhi, Nagpur, Kochi, and Ranchi by June 2024. These centers will offer bachelor’s degree programs in fields like nursing, along with industry-aligned certification courses developed collaboratively with universities.

Empowering the Healthcare Workforce

Emversity’s initial course offerings will strategically prioritize programs designed to address the critical skill shortages currently plaguing the healthcare sector. The company has taken proactive measures by forging partnerships with leading healthcare institutions such as Fortis Hospitals and Core Diagnostics. These collaborations will facilitate job placements and internship opportunities for Emversity students, ensuring a smooth transition from education to employment.

Leadership Reshuffle at Unacademy Paves the Way for New Ventures

Vivek Sinha’s departure from Unacademy in August 2023, after a successful three-year stint as COO, marked a period of leadership changes at the ed-tech giant. Sinha’s exit coincided with the resignations of other key figures, including chief marketing officer Karan Shroff, chief of staff Abhyudayay Rana, and chief financial officer Subramanian Ramachandran. Interestingly, Shroff has also ventured into the startup world, launching LightFury Games, a gaming startup that recently secured $8.5 million in seed funding led by Blume Ventures.