Higher-education embedded training and employability platform Emversity has bought back employee stock options worth Rs 6.5 crore from 20 employees as part of a liquidity programme.
The buyback was extended to employees who joined the company on or before January 31, 2024.
According to the company’s HR leadership, Emversity currently has more than 700 employees and operates across 24 states through over 60 locations in India.
The development comes soon after Emversity’s $30 million Series A round led by Premji Invest.
Emversity is operated by Beyond Odds Technologies, which was launched in April 2024 by Vivek Sinha, former COO of Unacademy, with an initial $11 million seed round led by Matrix Partners India (Z47) and Lightspeed. Soon after the launch, Emversity had raised $5 million in a pre-Series A round led by Lightspeed and Z47.
It also runs employer-linked skill centres, particularly in healthcare and hospitality, in affiliation with the National Skill Development Corporation (NSDC).
In less than two years, Emversity claims to have scaled to 4,500 learners across 40 campuses. Its programs are designed with employers to create predictable talent pipelines, especially for sectors facing workforce shortages.
The brand currently supports healthcare and hospitality roles, with learners placed across large hospital chains and hotel groups.
Source – https://entrackr.com/snippets/emversity-buys-back-rs-65-cr-esops-from-20-employees-11206952