Total amount raised
$10.7 Million
Latest funding date
12/01/2023
Location
Airblack has successfully raised INR 33 Crores over three funding rounds, with the latest being a Series B round led by the Michael & Susan Dell Foundation. The platform offers specialized courses in beauty and culinary arts, providing hands-on learning through "Do-it-together" workshops and live feedback from industry experts.
Keep reading to explore the intricacies of Airblack's fundraising journey and the investors backing this innovative skilling academy.
What Is Airblack?
Airblack is a skilling academy based in Gurgaon, Haryana, India, specializing in beauty and culinary arts. The company operates in the EdTech and education industries, offering hands-on, interactive learning experiences through "Do-it-together" (DIT) courses.
Founded with the mission to empower individuals to launch successful creative careers, Airblack has a community of 35,000 students from over 300 cities in India and the UAE. The company employs between 101 and 250 people and has raised funding through three rounds, with the latest being a Series B round.
How Much Funding Has Airblack Raised?
- Seed Round
- Amount Raised: $1,500,000
- Date: May 2019
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial course offerings.
- Series A
- Amount Raised: $5,200,000
- Date: June 2021
- Lead Investors: Elevation Capital, Info Edge Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand course offerings and scale operations to reach more students.
- Series B
- Amount Raised: $4,000,000
- Date: December 2023
- Lead Investors: Michael & Susan Dell Foundation
- Valuation at Round: $23,000,000
- Motivation Behind the Round: To launch new skilling programs, open hybrid learning centers, and drive student outcomes in Tier 1 and Tier 2 cities.
Total Amount Raised: $10,700,000. Current Valuation: $23,000,000.
Key Investors
- Michael & Susan Dell Foundation
- Details: A philanthropic organization founded by Michael and Susan Dell, focusing on transforming the lives of children living in urban poverty through better education, family economic stability, and health.
- Investment Focus Areas: Education, family economic stability, health
- Notable Investments: Various educational and health initiatives globally
- Elevation Capital
- Details: A venture capital firm that invests in early-stage startups, primarily in India, focusing on technology and consumer sectors.
- Investment Focus Areas: Technology, consumer sectors, early-stage startups
- Notable Investments: Paytm, Swiggy, UrbanClap
- Info Edge Ventures
- Details: The investment arm of Info Edge, which is known for its investments in internet-based businesses in India.
- Investment Focus Areas: Internet-based businesses, technology companies
- Notable Investments: Zomato, PolicyBazaar, Naukri.com
- Blume Founders Fund
- Details: A venture capital firm that provides seed funding to early-stage startups in India.
- Investment Focus Areas: Early-stage startups, technology, innovation
- Notable Investments: Unacademy, Dunzo, HealthifyMe
- Mars Shot VC
- Details: A venture capital firm that invests in innovative and high-potential startups.
- Investment Focus Areas: Innovative startups, high-potential startups
- Notable Investments: Specific notable investments are not mentioned
What's Next for Airblack?
Airblack is poised to seize significant opportunities by launching new skilling programs and opening hybrid learning centers in 10 cities. With a strong market presence, having already reached over 35,000 students across 300 cities, the potential for growth is substantial. The focus on mobile-first delivery and practical learning approaches aligns well with current industry trends, positioning Airblack to attract a broader audience.
Future fundraising opportunities seem promising as the company continues to expand its offerings and geographical reach. The recent funding round led by the Michael & Susan Dell Foundation indicates strong investor confidence, which could pave the way for additional investments to support further growth and development.
However, Airblack may face challenges such as competition from other skilling platforms and ensuring consistent quality across different regions. Managing the logistics of opening new hybrid learning centers and adapting to changing industry trends will also be crucial for sustained success.
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