🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

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

EntrackrEntrackr · 1y ago
HCL invests $20 Mn in edtech firm Educational Initiatives via secondary
Medial

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.

Exclusive: Motilal Oswal invests in edtech-focused NBFC Auxilo

EntrackrEntrackr · 5m ago
Exclusive: Motilal Oswal invests in edtech-focused NBFC Auxilo
Medial

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.

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

EntrackrEntrackr · 7m ago
Nazara invests Rs 196 Cr in five firms including Funky Monkeys Play
Medial

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).

Download the medial app to read full posts, comements and news.