Edtech startup’s education initiative raises INR 166 from HCL Group

Educational Initiatives (Ei), an educational software company, has announced that it will raise Rs 166 million from HCL Group for a minority stake in the company.

This is part of a secondary share transaction in which Mumbai-based private equity firm Gaja Capital sold a portion of its Ei stake to HCL Group.

Bengaluru-based education technology company Education Initiatives is aiming to grow in Saudi Arabia, Kenya, Ghana and South Africa. We currently operate in Singapore, South Africa, India and the United Arab Emirates. The company is also looking to acquire edtech product companies focused on improving learning outcomes.

Pranav Kothari, CEO of Education Initiatives, said: “We are improving learning outcomes and empowering school teachers to achieve our intention that all children learn well, regardless of their parents’ income. They have proven their capabilities and I am excited to welcome HCL Group as an investor.” Share our vision of leveraging the best pedagogy and technology to improve learning outcomes for millions of students in India and around the world. ”

Founded in 2001, Ei is a business-to-business (B2B) education software company that provides schools with research-backed assessments and personalized, adaptive learning solutions that help improve learning outcomes. Ai claims he has over 1 million paying users on his two services: Assessment (Ei ASSET and Ei CARES) and Personalized Adaptive Learning (Ei Mindspark).

Shikhar Malhotra, Director, HCL Group, said, “Ei is a great organization with strong technology and a commitment to bringing about positive change in society. “We offer a unique combination of sustainable growth and sustainable growth.”

Gopal Jain, Managing Partner at Gaja Capital, said: “Ai is committed to building resilience, high growth, pedagogy and technology in a vision to solve one of the biggest problems of our time. “This is a rare example of coming together to help all children understand and learn.”