As part of its seed fundraising round, IIM Lucknow's start-up incubation division EIC acquired a tiny share in ed-tech company Just Rojgar for Rs 79.95 crore. Abhishek Ratan Chola, founder and director of Just Rojgar, said to PTI that the company's Just Learn edtech platform will be funded by the IIM Lucknow- Enterprise Incubation Centre (IIML-EIC) fund.
"We have received IIML-EIC seed round funding. The investment is coming for our brand Just Learn which focuses on providing 21st-century learning for employability enhancement aligned with Industry 4.0," Chola said. When contacted, IIML-EIC officials confirmed the investment. "IIM Lucknow Enterprise Incubation Centre has invested in Just Rojgar Solutions Private Limited at a valuation of Rs 79.95 Crore," IIML-EIC Assistant Vice President - Investment, Amrit Tiwari said. He omitted to mention the amount of stake that IIML-EIC took on, though. Chola added that Just Learn has already connected India's skilled labour force with Industry 4.0 and has given employability training to more than 5 lakh people.
"Currently, we have over 15 employees on our payroll. We will utilise the fund raised for HR expansion and making VR courses aligned with Industry 4.0," he added. Abhishek Ratan Chola and Aakriti Chaudhary founded Just Learn in 2020. Just Learn works in B2B mode with public and commercial organisations across industries and fills the gap between the industry's needs and the workforce's current skill sets in India.
Just Learn has also expanded into international markets and has started operations in the Netherlands. "This year we plan to enter the Middle East and South East Asia markets. This year, Just Learn is also launching courses in the B2C (business-to-consumer) market to provide futuristic employability learning," Chaudhary said.