French Angel Investment Company Kima Ventures has invested US$ 150,000 in Bangalore based e-learning platform Codelearn. In return the company has received a minor stake in the company. Codelearn allows people to learn the concepts of coding & software development via live application development rather than imparting knowledge about the language & then asking users to get creative on their own.
At present, the company has collated a few tutorials that help one get started right away on building applications using the ‘Stack’ model. The website has a unique in-browser app development environment that only puts forth whatever is necessary or what is needed for the next step. This simply eliminates the clutter of ancillary tools which can confuse a new learner. Segregated into small ‘sessions’ novice developers slowly gain proficiency owing to this block-by-block teaching method. Codelearn currently offers only ‘Ruby on Rails’ app development environment.
The funding will be primarily used to bolster the team from the present 2 & add newer courses. So far the company is offering free courses to 2500 registered members, claims the founder. As for monetizing the platform, the founder duo, IIT Kanpur alumnus Hemanth Haridas and IIT Madras alumnus Ashish Sharma wish to enhance traction first before thinking about making money from this endeavor.
The other interesting aspect about this funding is that it is the first Indian Investment for Kima. Founded merely 2 years ago, the investment firm claims to have an significantly shorter decision-to-invest time ranging from a 14-24 days as opposed to other firms that can take anywhere between 3-6 to decide if they want to invest. This easily bolsters the confidence of the recipient company who can focus on development rather than securing the financial aspect.
Image Courtesy | bplanexperts