Hyderabad-based skill development and training company TalentSprint Educational Services Pvt Ltd has raised Rs 20 crore ($4 million) in series A funding from Nexus Venture Partners. As part of the investment, Nexus Ventures’ MD Anup Gupta will join the company’s board.
Set up in 2009 by Madhumurty Ronanki, Santanu Paul, and JA Chowdary, TalentSprint offers employability programmes to professionals, using experiential learning and iPEARL, its technology platform for the IT and BFSI sectors. The learning programmes are delivered to students, job-seekers and young professionals to make them job-ready.
Bangalore-based online education training and certification company Edusys Services Pvt Ltd has raised $7.5 million (Rs 38 crore) from Sequoia Capital. With this round of funding, Edusys aims to expand its business by introducing new products and strengthening its core team and technology platform. Launched in 2004, Edusys currently has a customer base of more than 3,500 companies globally and supports students from over 150 countries. It offers specific courses and tests, which span a vast spectrum of conventional and emerging domains of learning and work. The company has offices in the USA, the UK, Singapore and Australia besides Bangalore and Bhubaneswar in India.
Partly spurred by its concentration of intellectual talent, New York is also becoming a hotbed of innovation in educational technology. Venture capital investment in education-related startups in the metro area totaled $95 million in 2011—an 84% spike over the prior year, according to PricewaterhouseCoopers/National Venture Capital Association. The number of startups receiving investment money rose to 14, up from eight in 2010.In the long run, newfangled interactive textbooks like the ones Apple and its publishing partners previewed last Thursday are likely to be a minor aspect of education’s digital revolution. But Apple’s entry is certainly helping the revolution along.
All doesn’t seem to be well, however:
In the fourth quarter, VC financing in the New York area plunged 40%, compared with the prior quarter, to $545.1 million.
But experts say the tech-education industry is just getting started. The U.S. business for e-learning products and services in the pre-K to 12-and-higher education markets will grow to $11 billion in 2015, from $7.6 billion in 2011, according to research firm Ambient Insight.
Pearson Plc., the world’s largest education service provider and one of the leading media groups, is in advanced stages of discussion with Educomp Solutions Ltd to buy out the latter’s 50 per cent stake in Indiacan, a vocational education company formed as a joint venture between the two companies, at least two sources with direct knowledge of the development told VCCircle.
While the details of the company’s valuation are not known, sources close to the development peg the deal value (for 50 per cent stake) in the range of Rs 350 crore ($70 million) to Rs 500 crore ($100 million).
In 2009, Pearson Plc. invested $17.5 million in Indiacan (then known as Educomp Vocational Education Pvt Ltd), thereby valuing the company at $36 million.
Tablet makers appear to see a big market for selling devices to students. After Datawind’s blockbuster launch of the world’s cheapest Tablet Aakash and the more recent launch of Classpad, it is the turn of E-class Education System Ltd, a wholly owned subsidiary of public listed stationery products maker Sundaram Multi Pap Ltd to launch an education Tablet.
The company has launched a new Tablet PC called ‘e-class Tablet’. The Tablet comes inbuilt with e-class content and has been developed by Sundaram Group for Maharashtra State Board students. The Tablet has the entire syllabus of a selected standard preloaded inside it in a video format that includes animations, audio and visuals.
There are two models of the Tablet, a basic and a premium one. The basic model comes with a resistive touchscreen and is priced at Rs 8,000, while the capacitive touchscreen model is priced at Rs 12,000.
Dilip Modi-promoted Omnia Investments has funded candidate assessment venture Common Job Test and higher education firm Sunstone, picking up significant minority stake in both start-ups. According to a report by Economic Times, the total sum invested by Omnia in these early-stage start-ups amounts to Rs 7 crore.
Helion Advisors, one of the largest early stage venture funds in the country, today announced an investment of US$ 3.5 million in Vienova Education, an affordable private education provider based in Delhi, India. This follows the first round of funding by Indian Angel Network (IAN) and others in 2008. With this investment, Mr Sanjeev Aggarwal, Senior Managing Director, Helion Advisors, joins the board of Vienova.