Mahindra Partners – the single family office of the Mahindra family – has invested an undisclosed amount on Series A in the indian edtech startup AhaGuru to help it expand internationally and further product development.
According to the press release from the company, the funds raised will be used to further its expansion across India and other regions such as the Middle East, and also to develop new technology features such as AI-powered tools to personalize and improve the learning experience; produce more online courses and to hire more teachers and mentors. By increasing both product variety and active markets, the company aims to grow sharply its user base and capture the rising demand the coronavirus crisis is generating.
Founded by Dr Balaji Sampath and Gomathi Shanmugasundaram in 2012, AhaGuru provides science and math education for middle and high-school students preparing for their board and competitive exams. Its own research-backed learning techniques to improve concept understanding and problem-solving abilities have enabled their students to experience great results so far and it’s the reason why its growth has been mostly organic.
AhaGuru: Active in the booming EdTech sector
The Edtech ecosystem is experiencing an unprecedented boom due to Covid-19 crisis and the lockdown is imposing, which requires digitizing the education system. Many startups on the sector such as Byju’s, Eruditus, Vedantu, and Toppr, among others, have also raised millions in funds and even closed acquisition deals, such as Byju’s on his $300 M deal for WhiteHat Jr. this August. The competition on the market is growing exponentially but so it is the user base, so the expected economic potential of the sector is set very high.
Mahindra Family Office: Important Indian investment firm
Mahindra Partners belongs to the Mahindra & Mahindra’s president’s family. Founded in 2009, has investment positions in 16 companies, mainly in India. Its current portfolio is focused on renewables, industrials, healthcare, consumer retail and technology companies.
With this investment deal, the company gets into a new and emerging sector with growth potential worldwide, with a clear impact on society’s future and a secured demand, looking this way to get on board early on in a unicorn-to-be company that will become a leader in its field, while also helping to democratize access to education.
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