BridgeLabz Raises Undisclosed Amount From Yunus Social Business in Its Latest Round of Funding
Monday, February 22, 2021 2:04PM IST (8:34AM GMT)
Aims at providing Tier-1 and Tier-2 city engineers with top tech employment
Mumbai, Maharashtra, India:
India’s largest IP-driven incubation lab, BridgeLabz, has raised funding of an undisclosed amount from Yunus Social Business The investment’s success is attributed to the social impact of BridgeLabz in grooming and providing engineers with tech-related jobs.
BridgeLabz plans to utilize the investment to further its social impact by reaching out, grooming, and unlocking global tech opportunities for numerous Tier-2 and Tier-3 engineers. It will also focus on expanding brand awareness and live experiential learning through the BridgeLabz Fellowship program, wherein it guarantees jobs with the best tech companies for developmental roles.
Speaking on the same, Narayan Mahadevan, Founder, BridgeLabz, said, “It is always a delight when the investors, the organizational outlook, and all relevant philosophies are perfectly in line! We are now excited to have YSB on board as our investor. It's a great validation of our journey and endeavors to be Socially Impactful by equipping engineers with the right skills and the related jobs simultaneously. Through our unique approach, we envision creating a million jobs over the next 5 years. Bridgelabz’s association with YSB, along with our existing stakeholders, will be pivotal in the same.”
Tech employability is a global concern. With over two million tech jobs being added each year, the industry falls short of skilled candidates to fill such positions. BridgeLabz’s goal is to help engineering candidates gain the required skills to secure jobs in the best technology companies across the globe.
Suresh Krishna, MD & CEO, Yunus Social Business Fund Bengaluru, said, “BridgeLabz’ business model and 1:1 mentoring solution addresses the gap that exists between the stages of graduation to productive employment of engineers. Its vision to solve the unemployment challenge, especially among young engineer graduates from tier 2 and tier 3 cities, resonates with YSB’s core philosophy. Given the extensive experience of the Bridgelabz promoters, their senior management in the IT space, proven business acumen, and 100% placement ratio, we trust that the company is well on its way to being a key game-changer within the industry.”
Incepted in 2016, BridgeLabz has so far groomed more than 2,000 engineers and contributed to their placement across leading IT companies. The talent incubator extends experiential learning to help students attain industry-relevant skill sets with 100% job assurance. BridgeLabz has forged partnerships with more than a thousand companies including Yatra, Capgemini, Meru, and RBL Bank alongside others. Using its innovative approach, BridgeLabz aims to impact more than 1 million jobs by 2025.
About Yunus Social Business Fund Bengaluru (YSBFB)
YSB Fund Bengaluru is a social business fund set up to provide patient capital in the form of long-term debt or equity to early stage social businesses across multiple sectors: education, healthcare, livelihoods, clean energy, agriculture, water, and sanitation. It is a part of a global network of YSB Funds, which have been established in Uganda, Kenya, Brazil and Colombia, and with a head office in Berlin, Germany. YSB Global was co-founded in 2011 by Nobel Laureate Professor Muhammad Yunus, with a mission to turn donations into investments for sustainable social businesses worldwide.
YSB has supported over 2,000 social business entrepreneurs, helped create over 74,000 higher incomes and impacted the lives of over 13 million people.
India’s largest IP-driven incubation lab, BridgeLabz, has raised funding of an undisclosed amount from Yunus Social Business. The investment’s success is attributed to the social impact of BridgeLabz in grooming and providing engineers with tech-related jobs.