Ed-tech Platform Pesto Raises $2 Million In Seed Investment

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Pesto

Gurugram based career accelerator platform Pesto, the company which helps software engineers has bagged a $2 million seed financing from Matrix Partners. Swiggy founders, Sriharsha Majety, Rahul Jaimini, and Nandan Reddy; Innov8 founder Dr. Ritesh Malik; Posist founder Ashish Tulsian and OIC Capital’s Jack Yeung also infused capital in the round as angel investors.

Launched in 2017 by Ayush Jaiswal and Andrew Linfoot, the platform offers a 12-week intensive training program in order to help the software engineers become job ready and break into the international tech careers across the globe through remote jobs.

Pesto LogoJaiswal talking about the reason of starting up the firm through a statement said, “There’s a severe shortage of tech talent in certain parts of the world (US, Canada, Europe, etc.) and we believe that India has a large number of undiscovered tech talent that can fill this gap."

“There’s an opportunity gap that exists for software developers in India versus the US. An entry-level engineer in the US will get paid $150,000, whereas in India an engineer with the same skills gets paid just Rs 300,000 per annum," Jaiswal added.

The company currently is placing full-stack Java developers in the US companies but will soon be focusing on the other segments like iOS development as well. Post the training, the candidates attract much better salary then they would usually get. The firm claims to be helping them get a 6x increase in the salary.

Rajat Agarwal, Vice President, Matrix India commenting on Pesto said, “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 infrastructures such as co-working and collaboration tools. Pesto is on a mission to build a marketplace for quality remote talent from India and we strongly believe in their skilling led approach."

 

Image Courtesy : Pesto

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