Cutting-edge Indian workforce-training startup Emversity has successfully closed a $30 million Series B funding round. This funding will enable them to broaden their job-ready training opportunities. Vivek Sinha, who launched Emversity in early 2023, was previously chief operating officer at edtech Unicorn Unacademy. To achieve this, the company aims at India, the world’s most populous market, by emphasizing jobs that AI can’t take over.
As part of its vision to foster inclusive talent ecosystems, the startup wants to create talent pipelines for “grey-collar” occupations like nursing, physiotherapist and medical lab technicians. It has provided training for varied hospitality positions, from guest relations work to food and beverage service. This bi-focal strategy addresses the immediate need for experienced practitioners across these fields. It furthers the goal of positioning Emversity and local innovators as leaders in workforce development.
In the last 12 months, Emversity’s revenue divided almost 50/50 between university-embedded training programs and specialized short-term certification courses. The firm’s collaboration extends to 23 universities and colleges. This unique partnership across more than 40 campuses of the City and County of Denver ensures deep and broad access to their trainings statewide.
Even as Emversity prepares to broaden its offerings, Sinha believes that human roles will always balance out any technological innovations.
“AI can cut down the administrative work of a nurse, such as filing patient details or electronic medical records,” – Vivek Sinha.
He is equally emphatic in admitting that technology can’t substitute for critical human functions.
“But AI can’t replace a nurse if you still need one at an ICU for every two beds.” – Vivek Sinha.
Currently, Emversity provides skilled vocational training programs and runs an online fast-track career exploration platform for high school students. Last year, this platform produced more than 350,000 questions! This platform accounted for more than a fifth of Emversity’s revenue. That’s a testament to how much students want to learn about their growing career options in an ever-evolving job market.
With operational model gross margins at ~80% and customer acquisition cost under 10% of revenue, Emversity’s operational model is highly profitable. This culture of financial discipline has been the foundation of the company’s sustainable growth. This, in turn, piqued investor interest, helping it raise a total of $46 million in funding.
The current infusion of capital will be directed towards enhancing existing training programs and developing new curricula that cater to the evolving job landscape. Emversity is emerging as a force to reckon with in the crowded edtech landscape. Most importantly, it focuses on where the unique acumen of the human brain will always be irreplaceable.