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Kedaara Capital Backs Edtech Startup K12 Techno Services, Peak XV Gets Partial Exit
Startup News FYI
·
1y ago
Medial
Kedaara Capital has invested an undisclosed amount in K12 Techno Services, an edtech startup based in Bengaluru. This investment will result in a partial exit for Peak XV Partners, formerly known as Sequoia Capital India. K12 Techno Services provides curriculum-based education to schools using technology, offering audio-visual content that covers the K-12 curriculum. The startup serves over 900 educational institutions and schools with more than 300,000 students. Kedaara Capital aims to accelerate K12 Techno's growth and expand its holistic education services across India at affordable prices.
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Related News
Venturi picks up over 5% stake in Peak XV-backed K12 Techno for $27 Mn
Entrackr
·
1y ago
Medial
Venturi Partners has announced a purchase of a $27 million worth stake in K12 Techno Services from Navneet Learning LLP, subsidiary of Navneet Education Limited. This is the second secondary round in K12 Techno in the last eight months. In a stock exchange filing, Navneet Education Ltd disclosed that it will divest 5.12% stake in K12 Techno against $27 million. It will also retain a 14.35% stake in the firm after this transaction. This roughly valued the Bengaluru-based firm at around $540 million. Investing out of its $180 million maiden fund, Venturi will join K12 Techno’s existing shareholders such as Peak XV Partners, Kedaara Capital, Sofina Ventures, and Navneet Learning LLP, to support the management team led by Jai Decosta, CEO of K12 Techno. For the uninitiated, K12 Techno runs the chain of Orchids International Schools. The 14-year-old company provides full stack education, content, and technology services to more than 900 educational institutions across the country through a combination of its own brand and a curriculum and technology platform. The firm provides management services to ICSE and CBSE curriculum schools from kindergarten to X-XII, based in large metros like Bengaluru, Mumbai and Gurugram under the ‘Orchid’ brand. As per the company, its brand, content and technology has been used by over 300,000 students in the K-12 space in India. It also claimed to have grown at a CAGR of 40% over the last five years. In September, K12 Techno raised investment from Kedaara Capital against a significant minority stake in the company. It also provided a partial exit to Peak XV Partners (formerly known as Sequoia Capital India). Check startup data intelligence platform TheKredible for the complete shareholding pattern. With this, K12 Techno will join Venturi Partners’ portfolio of consumer-focused investments in India and Southeast Asia which includes Livspace, Country Delight, Believe, Pickup Coffee, and DALI. According to TheKredible, the company registered Rs 382 crore in revenue in FY23 with Rs 39 crore loss. The firm expected to close FY24 with Rs 450 crore with EBITDA of nearly Rs 100 crore.
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Peak XV finds 10x return in oversubscribed IPO of Mamaearth
Economic Times
·
1y ago
Medial
Peak XV Partners, formerly known as Sequoia Capital India and Southeast Asia, is reported to have achieved a 10x or greater return on the oversubscribed initial public offering (IPO) of Mamaearth, a direct-to-consumer skincare brand. The company's shares are set to be listed on both the BSE and National Stock Exchange on November 10. This marks another successful investment for Peak XV Partners, which separated from Sequoia. The firm has also offloaded its remaining shares in Zomato, achieving substantial returns, and made a 12x-plus return on its investment in edtech startup K12 Techno Services.
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Kenro Capital buys stake in K12 Techno for USD 40 million
Economic Times
·
8m ago
Medial
Kenro Capital, a Venture Capital firm, has made its inaugural investment of $40 million in K12 Techno Services, the parent company of Orchids International Schools. Kenro Capital aims to invest in mature startups that have a proven path to monetization and profitability. This investment will provide growth capital to K12 Techno Services, allowing them to continue expanding their network of Orchids schools and Eduvate curriculum content and platform services. K12 Techno Services plans to add 8-12 Orchids schools annually and aims to cross Rs 500 crore in revenue this year.
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15 Months After Splitting From Sequoia, Peak XV Realises Exits Worth $1.2 Bn
Inc42
·
10m ago
Medial
Venture capital firm Peak XV Ventures has reportedly sold stakes in around a dozen listed portfolio companies over the past year. Some of the companies in which they have divested their stakes include Zomato, Mamaearth, and Truecaller. Additionally, the firm has also sold stakes in startups like K12 Techno, Pocket Aces, and PingSafe through secondary transactions and mergers and acquisitions in the last 15 months. With assets amounting to $9 billion, Peak XV Ventures manages a portfolio that includes unicorns like CRED, Meesho, Groww, and Unacademy.
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Exclusive: Unacademy in talks to merge with Orchid schools owner K12 Techno
Entrackr
·
1y ago
Medial
Edtech unicorn Unacademy is in discussion to merge with K12 Techno, which runs the chain of Orchids International Schools, three sources told Entrackr. This would be the first major consolidation in the edtech space which has been witnessing funding drought in the past two years. “The two companies have been discussing the terms of the merger for the last four weeks,” said one of the sources requesting anonymity. “If the merger gets through, both companies will own 50% each in the joint entity.” It’s worth noting that Unacademy made an investment in Orchid School (K12 Techno) three years ago, and Peak XV is a common investor in both companies. Sources assert that Unacademy also wanted to acquire Orchid School in 2021, but the discussions didn’t materialize. Queries sent to Unacademy and Orchid Schools remain unanswered until publication of this story. We will update the story in case they respond. The 14-year-old K12 Techno provides full stack education, content, and technology services to more than 900 educational institutions across the country through a combination of its own brand, and curriculum and technology platform. It provides management services to ICSE and CBSE curriculum schools from kindergarten to class X-XII, based in metros like Bengaluru, Mumbai, Gurugram and many mid-sized cities under the ‘Orchid’ brand. According to startup data intelligence platform TheKredible, K12 Techno registered Rs 382 crore in revenue in FY23 with Rs 39 crore loss. The firm expected to close FY24 with Rs 450 crore with EBITDA of nearly Rs 100 crore. Recently, Venturi Partners purchased a $27 million worth stake in K12 Techno Services from Navneet Learning LLP, subsidiary of Navneet Education Limited. Softbank-backed Unacademy raised its last equity round of $440 million led by Temasek at a valuation of $3.44 billion in August 2021. During fiscal year FY23, Unacademy saw a 26% jump in its operating revenue to Rs 907 crore while controlling losses by nearly 40% to Rs 1,004 core. In the beginning of FY24, the company also claimed that it was close to profitability at the group level. The firm is yet to file its audited financial statements for FY24.
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Peak XV makes one of its best exit moves from India portfolio
VCCircle
·
7m ago
Medial
Venture capital firm Peak XV Partners has made a successful exit from its Indian portfolio. The firm, which has recently achieved significant returns from investments in a coworking space provider and a healthcare platform, has now experienced a big win from a company it backed over ten years ago. Peak XV Partners is currently investing in sectors such as e-commerce and edtech.
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Kedaara, Partners Group, Creador plan exits from India portfolio
VCCircle
·
1y ago
Medial
Private equity firms Kedaara Capital, Partners Group, and Creador are considering selling their stakes in two of their portfolio companies in India. Aavas Financiers, a mortgage lender based in Jaipur, is being evaluated for a complete exit by Kedaara Capital and Partners Group. Meanwhile, Creador is exploring options for partial or complete divestment in Malaysia-based healthcare chain Columbia Asia Hospitals. The firms are looking to capitalize on the current market conditions and seek profitable exits from their investments.
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Peak XV Partners loses another exec as list of exits gets longer
VCCircle
·
5m ago
Medial
Peak XV Partners is experiencing a notable turnover with the departure of Shraeyansh Thakur after more than nine years. Thakur, who was a principal at the venture capital firm, is pursuing a new entrepreneurial venture yet remains involved with the firm’s portfolio companies. This exit adds to a series of senior executive departures, following Anandamoy Roychowdhary, Shailesh Lakhani, Abheek Anand, and Piyush Gupta, amid Peak XV’s revised investment strategy and budget adjustments.
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ChrysCapital, Peak XV score multibagger returns from common portfolio firm
VCCircle
·
8m ago
Medial
ChrysCapital and Peak XV Partners have successfully sold a common portfolio company, generating substantial returns from partial exits. Peak XV has recently achieved significant returns from another portfolio company, while also experiencing losses from BlackBuck, a logistics company.
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TPG, Matrix Partners, Peak XV strike $200-mn India exit
VCCircle
·
1y ago
Medial
TPG, along with Matrix Partners and Peak XV, has completed a $200 million exit from their investments in India. The private equity group TPG has been active in the Indian market, making multiple investments and now finalizing its fourth exit. This latest exit is in collaboration with alternative investment firms Matrix Partners and Peak XV.
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