This marks the company’s first institutional funding round after operating as a bootstrapped, profitable venture over the last few years.
According to the India Skills Report, over 50% of Indian graduates are deemed unemployable due to a lack of practical skills and industry-specific knowledge. With this funding, FinX aims to address this issue by equipping students with job-ready skills tailored to the BFSI sector.
“With this fundraise, our presence will grow in tier-one cities, but we want to begin focusing on state capitals and tier-two locations. Eventually, we aim to reach cities like Kolhapur and Aurangabad,” Himanshu Vyapak, Founder of FinX said in an interview to CNBC-TV18.
FinX has a clear roadmap for the future. “In the next five years, we aim to impact 100,000 students annually through our skilling and employability programs. This year alone, we plan to train 15,000 students across 12 states, with 60-65% securing placements through our programs,” Vyapak added.
FinX offers a range of industry-relevant courses and certifications, catering to the dynamic needs of the BFSI domain. “Our courses, designed and delivered by industry experts, range from short vocational training embedded within college curriculums to joint management programs. We also provide certifications in specialised areas such as stock markets, wealth management, and investment banking,” Vyapak explained.
In a separate development, The United Arab Emirates (UAE) recently organised the inaugural Founders’ Retreat in Dubai and Abu Dhabi, fostering collaboration between Indian and Emirati businesses. The event saw participation from founders of 13 Indian unicorn startups and five publicly listed companies.
Speaking to CNBC-TV18, Abdulnasser Alshaali, the UAE Ambassador to India, highlighted the growing emphasis on artificial intelligence (AI) as a critical sector for future collaboration. “AI is one of the key sectors that we have been focusing on over the past couple of years. And this will continue to be the case because it’s not just about AI, but how can you use AI in terms of all kinds of applications, whether it’s in business, whether it’s in education, whether it’s in healthcare,” Alshaali said.
He emphasised that India’s vast market and talent pool present immense opportunities to scale, test, and refine AI-driven technologies. “All of this is quite important because when you deal with AI, it’s not just about what you can do with it, but also about the feedback that goes into it to further improve the system,” he added.
Alshaali also noted the UAE’s focus on utilising AI across various services and industries, stating that the synergy between India’s market size and talent pool and the UAE’s expertise could lead to transformative advancements in AI applications.
Since 2000, UAE investors have contributed close to $20 billion to the Indian economy, underscoring the strong financial linkages between the two nations.
Additionally, Saurabh Chatterjee, the Founder of Vashishtha Research, shared his perspectives on various aspects of the startup and the promising opportunities ahead for the company. Vashishtha Research, a robotics-focused startup, is placing significant emphasis on India’s aerospace and defence sector, with expectations of nearly doubling its revenue in the coming year.
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