Disprz, a corporate learning and skilling platform, has raised $30 Mn in its Series C funding round led by Lumos Capital. 360 ONE Asset (IIFL Wealth) and existing investors Kae Capital, KOIS and Dallas Venture Capital also participated.
The funding will be deployed by the startup for global market expansion and product development, including integrating generative AI across the learning and skilling cycle. Disprz will also use the funds to hire data scientists, skill scientists and software engineers.
Further, Disprz aims to form partnerships and make acquisitions.
The funding round comes nearly two years after the skilling platform raised $13 Mn in its Series B round led by Dallas Venture Capital and Mars Growth Capital. Disprz has secured around $50 Mn in funding to date, including the current round.
Founded in 2015 by Subramanian Viswanathan and Kuljit Chadha, Chennai-based Disprz is an AI-powered learning platform that helps companies upskill workforces.
The startup claims to be serving nearly 350 organisations and 2.8 Mn users, including ICICI Bank, Amazon, Indian Oil, Bajaj Allianz, Ather Energy, HDFC Life, Starbucks, AIA, PETRONAS, Sharaf DG, Neom, Rivoli and Kotak Life Insurance, among others.
Subbu Viswanathan, cofounder and CEO of Disprz said, “With the world ready to be disrupted by generative AI and with organisations increasingly realising that upskilling and reskilling are not the mandate of just HR but every function, we are ready to steer towards becoming India’s first centaur (profitable $100 Mn company) in our platform category in the next 4-5 years.”
Disprz will join a growing list of startups adding generative AI capabilities to their platforms or service. Following the meteoric rise of large language models (LLMs), including ChatGPT and Bard, the generative AI market is set to reach $1.3 Tn in size, growing at a staggering CAGR of 42% between 2022 and 2032, per a Bloomberg Intelligence report.
The likes of Swiggy, Blinkit, OYO, BYJU’S, ixigo, Freshworks and others have launched generative AI-enabled products and services in their respective domains. Also, Google’s startup accelerator programme in India, Google For Startups, recently announced its seventh class of graduates, focused on generative AI.