WiT-ACE raises USD 1 mn funding from CitiusTech founders, CP Gurnani, others

WiT-ACE (Women in Technology-Accelerated Career Experiences) on Thursday said it has raised USD 1 million (about Rs 7.4 crore) in funding from CitiusTech founders Jagdish Moorjani and Rizwan Koita, Tech Mahindra CEO CP Gurnani and others.

The seed funding round also saw participation from Plaksha founder Sumita Ambasta, former Eicher Motors CEO Subodh Bhargava and others.

The proceeds will be used by the social impact organisation to scale-up its tech platform as well as for its expansion and strategic partnerships, a statement said.

WiT-ACE has commenced work with over 100 companies to engage, enable and employ women in decision making through their digital platform and virtual products. It is also working closely with government and academic agencies to ensure policy and education impact in the industry.

''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,'' WiT-ACE founder and CEO Anuranjita Kumar said.

The vision of WiT-ACE is to ensure at least 50 per cent women in decision-making roles. To achieve this goal, the focus is on strengthening the current weak talent pipeline in the industry through focused skilling for women at all stages.

WIT-ACE aims to halt the declining rates of professional women in the workforce (currently 20 per cent from 32 per cent a decade back) and elevate the numbers pan-India by adding at least one million skilled women in the workforce over next 4-5 years.

''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,'' Jagdish Moorjani, COO of CitiusTech, said.

CP Gurnani, CEO and MD of Tech Mahindra, said any effort to correct gender gaps needs to be measurable and sustainable.

''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,'' he added.