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.
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.
N R Narayana Murthy’s Catamaran Ventures, which struck its investing debut with SKS Microfinance (India’s first microfinance firm to go public), is making its second investment in Bangalore-based Ace Creative Learning Pvt Ltd, which provides educational support services to schools and colleges.
Accel Partners is the co-investor in the early stage investment round which will see both venture firms contributing Rs 2.5 crore each in Ace. This will be Accel’s fourth investment in 2010.
The $1.4 billion New Silk Route (NSR) Private Equity is close to investing Rs 325 crore or roughly $70 million , in Hyderabad-based Sri Chaitanya Educational Group, one of the country’s largest network of private schools and junior colleges, at least two persons familiar with the development said.
This could be till date among the biggest foreign investments in India’s education sector that is beginning to see a robust deal flow. NSR is an Asia-focused PE fund spearheaded by ex-McKinsey honcho Rajat Gupta, a former global head of Citi Victor Menezes and Parag Saxena.
“The total value of M&As in the space led by SKIL Infrastructure’s investment in Everonn Education, one of the biggest ever transactions as yet in the education sector, has crossed $50-million mark for the first time with over half dozen transactions.
The M&A deal numbers for the sector could well touch the previous best of 11 recorded in 2007 when top industry firms Educomp, Manipal Education and Core Projects & Technologies struck multiple deals in both India and abroad.
Expectedly, domestic M&As dominated the deal flow over the last six years with Educomp striking as many as eight transactions, the largest being its $24.5-million deal for Learning.com, followed by stake purchase worth $8.7 million in EuroKids International.”