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HCL Group invests Rs 166 crore in edtech Educational Initiatives

IndianStartupNews

IndianStartupNews · 1y ago

HCL Group invests Rs 166 crore in edtech Educational Initiatives

HCL Group has invested Rs 166 crore (approx. $20 million) in educational software company, Educational Initiatives (Ei). The investment comes as a secondary sale, allowing HCL to acquire the minority stake previously held by Gaja Capital. The funding will support Ei's expansion plans, including entering new markets such as South Africa, Kenya, Ghana, and Saudi Arabia. Ei offers assessment and adaptive learning solutions to schools and claims to have over a million paid users. The investment will enable Ei to enhance its product offerings and further improve learning outcomes for students.

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HCL Group invests Rs 166 crore in edtech firm Education Initiatives

Economic Times

Economic Times · 1y ago

HCL Group invests Rs 166 crore in edtech firm Education Initiatives

Indian IT firm HCL Group has invested INR 166 crore (approximately $23 million) to acquire a minority stake in educational software company Educational Initiatives (Ei). The deal involves HCL purchasing a portion of the stake held by private equity firm Gaja Capital in Ei. This investment will enable Ei to expand its presence into new markets such as South Africa, Kenya, Ghana, and Saudi Arabia. Ei provides schools with assessment and adaptive learning products aimed at improving learning outcomes for students and teachers. The company also intends to acquire edtech product companies focused on enhancing educational outcomes.

HCL invests $20 Mn in edtech firm Educational Initiatives via secondary

Entrackr

Entrackr · 1y ago

HCL invests $20 Mn in edtech firm Educational Initiatives via secondary

Education software company Educational Initiatives (Ei) has raised Rs 166 crore (approximately $20 million) in a secondary round from the HCL Group. The IT company will also acquire a minority stake in the Bengaluru-based company from private equity firm Gaja Capital. According to an ET report, Ei plans to expand to new markets like South Africa, Kenya, Ghana and Saudi Arabia. It currently operates in India, South Africa, Singapore, and the UAE. The firm is also looking to acquire edtech product companies focused on improving learning outcomes. Founded in 2001, Ei is a B2B company that provides schools with a suite of assessment and adaptive learning products for teachers and students to help improve learning outcomes. Ei, which claims to have over a million paid users, has tied up with several schools, state governments in India, international organisations, non for profit organisations and CSR initiatives. Led by Pranav Kothari, Ei registered a more than 56% jump in its revenue from operations to Rs 97 crore in FY23 from Rs 62 crore in FY22. During the period, the company’s profit saw a minor increase from Rs 4.2 crore to Rs 5.5 crore. India’s third largest IT services company HCL also invested in edtech company Guvi in September 2022. Guvi raised $1.9 million from Vama Sundari Investments, which is a promoter of HCL. It’s worth highlighting that HCL Technologies rebranded itself as HCLTech in 2022.

HCL invests $20 mn in PE-backed digital learning firm Ei

VCCircle

VCCircle · 1y ago

HCL invests $20 mn in PE-backed digital learning firm Ei

Indian IT major HCL Group has invested $20 million in digital learning company Educational Initiatives (Ei). This marks HCL's entry into the education sector. Ei, backed by private equity firm Gaja Capital, provides research-backed assessments and personalised adaptive learning solutions to schools. It plans to expand further in South Africa and enter new regions such as Kenya, Ghana and Saudi Arabia. Ei is also looking to acquire edtech product companies to enhance learning outcomes in different regions. HCL Group operates in technology, healthcare and talent management sectors and generates annual revenues of over $13.1bn.

HCL Picks Up Minority Stake In Educational Initiatives For $20 Mn

Inc42 · 1y ago

HCL Picks Up Minority Stake In Educational Initiatives For $20 Mn

IT giant HCL Group has acquired a minority stake in education software company Educational Initiatives (Ei) for INR 166 Cr ($20 Mn). The investment will help Ei expand to new markets such as South Africa, Kenya, Ghana, and Saudi Arabia and explore acquisitions of edtech product companies. Ei is known for its K-12 assessments and adaptive learning offerings and operates in a business-to-business (B2B) model. This investment comes at a time when the Indian edtech market is expected to grow to a $29 Bn opportunity by 2030.

Oyo estimates Rs 1,100 crore PAT for FY26: Founder Ritesh Agarwal

Economic Times

Economic Times · 5m ago

Oyo estimates Rs 1,100 crore PAT for FY26: Founder Ritesh Agarwal

OYO projects a Rs 1,100 crore profit after tax for FY26, boosted by strong growth and the Motel 6 acquisition. The company anticipates an EBITDA of Rs 2,000 crore, with Motel 6 contributing over Rs 630 crore in its first full year post-integration. OYO's PAT rose significantly to Rs 166 crore in Q3, and strategic initiatives have bolstered its market position. Moody's upgraded OYO’s rating to B2, reflecting stability and growth potential.

Exclusive: Motilal Oswal invests in edtech-focused NBFC Auxilo

Entrackr

Entrackr · 6m ago

Exclusive: Motilal Oswal invests in edtech-focused NBFC Auxilo

Education-focused non-banking financial corporation (NBFC) Auxilo has raised Rs 50 crore in debt from Motilal Oswal. Auxilo allotted 5,000 Non-Convertible Debentures (NCDs) to Motilal Oswal Finvest Limited at a face value of Rs 1,00,000 each, aggregating to Rs 50 crore in Series I and Series II of 2,500 NCDs each. The Series I debentures have a tenure of 2 years with a rate of interest of 9.7% per annum while the Series II debentures carry 9.8% annual interest with a tenure of 3 years, according to the filing. Education-dedicated NBFC Auxilo Finserve provides education loans to students for higher studies in India and abroad and to educational institutes for infrastructure modernization. Its educational loans include all the expenses related to the course including classroom expenditures, pre-visa approvals, air-fares, et al. Auxilo has raised over $100 million across equity and debt since its inception and it competes with well-funded firms such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Eduvanz. Auxilo recorded a 100% year-on-year growth in its revenue to Rs 356 crore in FY24 from Rs 178 crore in FY23. On the back of strong growth, its bottom line jumped 2.68X to Rs 69.2 crore in the previous fiscal (FY24). This is the fourth recent investment by the Motilal Oswal Group in Indian startups.

Zerodha’s Nikhil Kamath invests in finfluencer Sharan Hegde's start-up The 1% Club

Business Today

Business Today · 1y ago

Zerodha’s Nikhil Kamath invests in finfluencer Sharan Hegde's start-up The 1% Club

Zerodha's Chief Investment Officer, Nikhil Kamath, has invested in 'The 1% Club', a start-up founded by finfluencer Sharan Hegde. The start-up has secured Rs 10 crore in pre-series A funding, with investment from Gruhas, a venture capital firm co-founded by Kamath. The 1% Club is a members-only platform that offers educational resources, mentorship, and entrepreneurial opportunities for individuals to plan their financial future. The funds raised will be used to expand operations and attract talent. The start-up aims to combine fintech and edtech to empower individuals in making informed financial decisions.

Nazara invests Rs 196 Cr in five firms including Funky Monkeys Play

Entrackr

Entrackr · 8m ago

Nazara invests Rs 196 Cr in five firms including Funky Monkeys Play

Nazara Technologies Limited, India's premier listed gaming and esports company, has invested Rs 196 crores in four gaming companies. The company acquired a 60% stake in Funky Monkeys Play for Rs 43.7 crore. This investment in Funky Monkeys Play is aimed to expand Nazara’s footprints into physical entertainment. Nazara also invested Rs 4.2 crores in LearnTube.ai, an AI-driven educational platform with over 20 lakh users, to improve gamified learning experiences. The rest of the Rs 148 crore has been allocated to existing subsidiaries, including Nodwin Gaming, Sportskeeda, and Datawrkz at Rs 64 crore, Rs 69 crore and Rs 15 crore, respectively. “These initiatives align with our vision of creating a diversified global gaming and entertainment platform,” said Nitish Mittersain, CEO, Nazara. Nazara continues to dominate India's esports landscape with back to back acquisitions through main and subsidiaries. Recently, Nazara-backed NODWIN Gaming acquired a gaming agency Trinity Gaming for $2.8 million. In October, Nazara' subsidiary Datawrkz acquired a 100% stake in UK-based Space & Time. It also invested Rs 982 crore in PokerBaazi’s parent Moonshine Technology and acquired stakes in e-sports companies such as Stan, Fusebox Games, Kiddopia’s developer Paper Boat Apps, Ultimate Teen Patti, and DeltiasGaming. Last month, the Mumbai-based firm also raised Rs 855 crore (approximately $100 million) through a preferential issue. Nazara’s revenue from operations reported a modest growth of 7.4% Q-o-Q to Rs 319 crore in Q2 FY25 with profits increasing only 2.4% to Rs 21.75 crore in the same period. Before the market closed on Monday, the company’s shares were trading at Rs 1,012, with a total market capitalization of Rs 7,747 crore (approximately $922 million).

Physics Wallah launches offline ESE, GATE and SES centre in Delhi

IndianStartupNews

IndianStartupNews · 1y ago

Physics Wallah launches offline ESE, GATE and SES centre in Delhi

Indian edtech unicorn Physics Wallah has launched its first offline centre in Saket, Delhi, offering coaching for competitive exams like ESE, GATE, and SES. This move is part of Physics Wallah's expansion plan to establish 18 new educational centres across 12 cities, with an investment of approximately Rs 120 crore. The centre aims to provide comprehensive exam preparation, personalized mentoring, and access to advanced educational resources. Physics Wallah is a leading edtech startup in India, offering online and offline coaching for competitive exams.

Manipal Group’s Ranjan Pai in talks to invest up to Rs 2,500 cr in Byju’s; Davidson Kempner to exit with Rs 1,400 cr

Business Today

Business Today · 1y ago

Manipal Group’s Ranjan Pai in talks to invest up to Rs 2,500 cr in Byju’s; Davidson Kempner to exit with Rs 1,400 cr

Edtech giant Byju's is reportedly close to resolving its dispute with New York-based investment manager Davidson Kempner Capital Management over a loan linked to its profitable entity, Aakash Educational Services. Chairman of Manipal Education and Medical Group, Ranjan Pai, is said to be finalizing a deal to invest up to $300 million in Byju's, with a majority going to Aakash. Pai will also pay Rs 1,400 crore to fully settle the loan. Byju's is also planning to sell its group firms, Great Learning and Epic, to raise funds.

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