JMI MBA Student-Led Startup Secures ₹4 Crore Seed Funding to Propel Growth
Mohammad Uwais, an ambitious entrepreneur and an MBA student from Jamia Millia Islamia (MI) has successfully secured Rs 4 Crore in seed funding for his startup, VTEC. The startup, initially bootstrapped, has now taken a significant step forward with this infusion of capital, according to a statement from Jamia Millia.
“The startup VTEC, operating under the wings of JMI, has reached a significant milestone by securing ₹4 Crore in seed funding from an angel investor. This accomplishment marks a pivotal moment in the journey of the innovative venture, setting the stage for its rapid expansion and continued success,” the statement added.
The recent infusion of ₹4 Crore in seed capital represents a major turning point for the startup, according to Jamia Millia.
In exchange for this funding, the investor will acquire a 10% equity stake in VTEC, valuing the company at ₹40 Crores. This investment, which represents the pre-seed round for the company, will fuel VTEC”s ambitious growth plans.
VTEC is a multifaceted consulting firm that operates across various sub-domains, including political consulting, business consulting, finance consulting, and healthcare consulting. With a dedicated and dynamic team at its helm, VTEC has gained recognition for its expertise, innovative solutions, and commitment to delivering value to its clients.
This substantial injection of capital will allow VTEC to accelerate its expansion efforts, enhance its service offerings, and bolster its market presence. The funding will be utilized to develop cutting-edge solutions, expand the company”s client base, and invest in talent acquisition and development.
JMI takes immense pride in its association with VTEC and acknowledges the entrepreneurial spirit displayed by its students. The university”s commitment to fostering innovation and supporting its students” entrepreneurial endeavours is evident through this collaboration.
The successful seed funding round reflects the confidence that investors have in VTEC”s potential to make a meaningful impact in the consulting industry. The company”s dedication to excellence, coupled with its commitment to serving diverse sectors, positions it as a valuable player in the consulting landscape.
As VTEC embarks on this exciting new phase of growth, the university extends its best wishes and unwavering support to the young entrepreneurs behind this venture. This accomplishment serves as a testament to the entrepreneurial ecosystem at JMI and underscores the institution”s commitment to nurturing talent and fostering innovation.
