On Thursday, WiT-ACE (Women in Technology- Accelerated Career Experiences) announced that it has raised $1 million as a part of the first seed funding led by founders of CitiusTech. Amongst the investors others were CP Gurnani, CEO- Tech Mahindra; Sumita Ambasta, Founder and Executive Director- Flowering Tree Inc.; Subodh Bhargava, Independent Director Chairman at Tata Communications and Wartsila India; Vikram Chachra, Founding partner in 8i Ventures; Sonny Iqbal, Partner and Co-leader, Family Business Practice at Egon Zehnde. In support, Dexter Capital also came out to fundraise for WiT-ACE.
As per the statement put by the company, the proceeds will be utilized in making the social impact of the organisation to scale up its tech platform. Also, for its expansion and strategic partnerships.
Anuranjita Kumar founded WiT-ACE in 2008, with a vision to enable, engage, and employ women in the STEM workforce. WiT-ACE started work with over 100 companies to engage, enable and employ women through their digital platform and virtual products. The company is also working tight-knitted with the government and academic agencies to ensure policy and education impact in the industry.
WiT-ACE founder and CEO Anuranjita Kumar said in a statement, “We are focused on progressive and measurable impact on bridging gender gaps, through skilling and employment that will lead the transformation… we are confident their (mentors) support will be the much-required springboard towards achieving our target of impacting 20 million women by 2025.”
She further added, “It is humbling to have partners who are mentors and industry torchbearers themselves, and we are confident their support will be the much-required springboard towards achieving our target of impacting 20 million women by 2025.”
WIT-ACE aims to add more professional women in the workforce. Currently at 20 per cent from 32 per cent ten years ago. The company is aiming to increase the numbers pan-India by adding at least ten lakh skilled women in the workforce over the next 4-5 years.
CP Gurnani, CEO & MD Tech Mahindra, “WiT-ACE has multiple tracks parallelly focused on developing women as front runners to lead organisations of tomorrow. Both Rizwan Koita and I believe the ‘gender gap’ in multiple ways holds us back as a nation to achieve our full potential and this can be achieved only through consistent efforts that deliver measurable results. We see the potential and believe industry participation could really move the needle.”
Further, he added, “Any effort to correct gender gaps needs to be measurable and sustainable, for which we need to tackle the real issues from the root level and further nurture inclusive growth. I believe that technology has a great role to play in ensuring this, and the initiatives led by WiT-ACE in this regard are truly inspiring. I look forward to the next phase of their efforts towards enabling a gender-equal and inclusive future.”