Edtech startup Pesto raises ₹14 crores from Matrix Partners, others

Gurugram-based career accelerator startup Pesto has raised ₹14 crores ($2 million) from Matrix Partners India as well as Swiggy co-founders Sriharsha Majety, Rahul Jaimani, and Nandan Reddy. Ritesh Malik, founder of Innov8 Coworking, Ashish Tulsian, founder of Posist and Jack Yeung of OIC Capital also participated in the funding round.

Founded by Ayush Jaiswal and Andrew Linfoot in 2017, the startup upskills Indian software engineers by offering a 12-week boot camp. The startup aims to make engineers Silicon Valley-ready and pair them with the world’s top technology firms. Ayush was the ex-Country Head of Startup Grind India and Andrew is the co-founder of coworking space The Anvil.

The training boot camp reskills engineers with a minimum of two years experience via a vast network of mentors in the United States. The startup provides recruitment services to companies like Fossa.ai, Scale API, Embibe, Vaynermedia, Mimir HQ and Zinc.io. Presto requires trainees to sign an income sharing agreement before joining the program.

Rajat Agarwal, Vice President of Matrix India, shared in media, “Remote work is an early trend globally driven by a shortage of high-quality local talent, the rising cost of living in key technology hubs, and widespread adoption of enabling infrastructure. Pesto is on a mission to build a marketplace for quality remote talent from India and we strongly believe in their skilling led approach.”

Pesto polishes the skills of a software engineer that helps him earn more than ₹15 lakhs per annum at a full-time remote job in an international technology company. Once they get a job, they have to pay 17 percent of their annual income as the training fee for the next three years. The startup launches new batches every month.

SW Staffhttps://startupwonders.com/guestpost
Startup Wonders provide startup resources, stories and news to help budding entrepreneurs grow and succeed in their business career.

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