The edtech company NxtWave announced on Tuesday that Greater Pacific Capital, a private equity firm, had led its most recent investment round, which brought in $33 million (or around Rs 272 crore). Orios Venture Partners, an existing venture investor in NxtWave, took part in the investment round as well.

Sashank Reddy Gujjula, Anupam Pedarla, and Rahul Attuluri, alumni of IIT Bombay, IIT Kharagpur, and IIIT Hyderabad, founded NxtWave. They want to use the money for both organic and inorganic business growth in domestic and international markets.

“We are thrilled to welcome Greater Pacific Capital (GPC) as a new co-traveler. The first step in developing our youth’s skills is making India a technological superpower. “We will work together to provide youngsters in India with high-quality, employability-focused education that will adequately prepare them for the occupations of the future,” Rahul Attuluri, CEO and Co-Founder of NxtWave, said.

Many NxtWave graduates have reportedly been hired by more than 1,250 businesses in the last two years, according to the company.

According to a release, NxtWave wants to use the money to invest in products and content, partner with over 10,000 businesses to recruit their students and meet the industry’s demand for qualified workers, make acquisitions over the next few years, and expand to different parts of the nation.

The acquisition includes Nandan Desai, MD and Co-Head of India for GPC, joining the board of NxtWave.

A Morgan Stanley analysis predicts that India’s IT exports will triple in size over the next eight years, from $178 billion to $527 billion, providing a wealth of job prospects for the country’s youth.

“We are thrilled to collaborate with NxtWave to rapidly develop its platform and give access to high-quality education and training for India’s youth in this exciting global growth area,” said Ketan Patel, founder and chief executive officer of GPC.

Anup Jain, the managing partner of Orios Venture Partners, stated that approximately 63% of Indian graduates are unemployed and that within a few years, 30 lakh new tech jobs are expected to be generated in India.

“This gap creates a total opportunity for tech upskilling of approximately $8 billion every year.” “NxtWave has demonstrated its ability to close this gap and is now prepared for its upcoming phase of growth across India,” Jain stated.