Japan's Mynavi invests in AccioJob to expand its India education and hiring portfolio

Japanese human resources and information media company Mynavi Corporation announced in September 2023 that it had invested in AccioJob, a Gurugram-based startup that combines tech skills training with job placement support. The investment was made through Mynavi Solutions India, the group's Indian subsidiary. The amount and the round size were not disclosed in the People Matters report published on September 11, 2023.

AccioJob was founded by graduates of IIT Delhi and runs cohort-based technology and software development programs that include upskilling and placement support for students, colleges and employers. The company said its programs had placed more than 1,000 students across more than 300 technology companies over the previous year. Chief executive Yashwardhan Burad said the funds would be used to expand industry partnerships and build awareness among students.

Hidekazu Ito, managing director of Mynavi Solutions India, said the investment fit the company's plan to look for Indian startup investments over the next three to five years, with a focus on problems at the intersection of hiring and education. He said only 10 to 20 percent of graduates from top universities earn higher salaries, and that many fresh graduates struggle to find jobs that pay market rates, which he described as a mismatch between education and employment outcomes. AccioJob said it aims to simplify the recruitment of freshers, position them as a stronger pool for technology hiring and lower deployment costs for employers.

AccioJob was not Mynavi's first Indian startup investment. According to the report, the Japanese firm had earlier invested in enterprise gig work startup Awign and had led the first funding round of Unstop, a student engagement and hiring platform, in a $5 million round that included Venture Catalysts. Mynavi was also named that year as a limited partner in the Opportunity Fund of Indian venture firm Unitus Ventures, according to Business Today.