Techmaghi receives Rs 20 lakh startup seed fund from LJ Knowledge Foundation

New Delhi [India], October 27 : In a boost to educational technology firm Techmaghi, the LJ Knowledge Foundation (LJKF) has provided a substantial investment of Rs 20 lakhs.
According to a press release, the infusion of capital further solidifies Techmaghi's mission to bridge the gap between industries and educational institutions by offering up-skilling courses that align with the evolving demands of the modern workforce.
Techmaghi, a venture that took root in 2021 and is incubated under the Kerala Startup Mission (KSUM), is making remarkable strides in reshaping the educational landscape.
This strategic partnership with LJKF, an Ahmedabad-based organization dedicated to supporting startups, positions Techmaghi for significant expansion, aiming to reach an even wider audience of students and professionals.
Deepak Rajan, the Founder and CEO of Techmaghi, expressed his enthusiasm about the funding received, stating that it would enable them to create a more substantial impact in the realm of cutting-edge education and skill development.
Ranjan said, "This funding will allow us to make a more significant impact on cutting-edge education and skill development".
The financing structure is provided in the form of a Compulsorily Convertible Debenture (CCD) and solidifies Techmaghi's place in the educational landscape.
Situated within the vibrant ecosystem of Maker Village at KINFRA Hightech Park in Kalamassery, Kerala, Techmaghi began its journey with a modest team of 30 members in 2021.
Fast forward to the present, it has evolved into a leading education provider, serving the educational needs of over 75,000 students and generating a revenue exceeding Rs 2 crores.
Techmaghi's core focus is on empowering individuals with the skills and knowledge required to excel in the competitive job market, particularly in the field of core engineering.
Deepak Rajan expressed his gratitude towards Kerala Startup Mission (KSUM), recognizing their pivotal role in the company's journey and success.
Ranjan said, "We attribute much of our success to the support of KSUM".
KSUM, the Kerala government's nodal agency, established in 2006, has been instrumental in fostering entrepreneurship development and incubation activities within the state.
The agency's support has been integral in driving Techmaghi's mission and impact on the education and skill development landscape.
As the partnership between Techmaghi and LJKF unfolds, it not only bodes well for the ed-tech firm's growth but also contributes to the broader objectives of up-skilling and fostering the talents of the Indian workforce.
This latest infusion of capital emphasizes the importance of startups in reshaping education and highlights the significant role these companies play in preparing the workforce for the digital age.
Investments like these reflect the collective vision for an empowered and skilled future workforce in India.