Harness Handitouch, a Chennai-based educational technology startup, has raised an undisclosed amount from Luxembourg based Armat Group.
With this funding, ah! Ventures announces its first exit, Ah! had invested Rs 1 crore in Harness Handitouch through Club ah!, its angel investment network in 2012. All the investors have got full exit after current fund raise from Armat Group.
Abhijeet Kumar, Founding Partner, ah! Ventures said that the exit was profitable, and they plan to invest in more innovative startups.
Chennai-based Harness, founded in 2011, is an education and learning company that aims to build and commercialize disruptive technology products which enhance teaching experiences and learning outcomes across geographies, age-groups and segments. The company currently serves more than 10,000 learners and teachers across 6 countries through its team of 20 people dispersed across various cities in India and the Middle East.
In February this year, ah! Ventures had made investment of $ 1 million in Bengaluru-based iTraveller.com, a technology driven travel marketplace startup based in Bangalore. In October 2014, online exam preparation site Testbook, had secured Rs 1.5 crore with the help of LetsVenture and Ah! Ventures. Bangalore-based mobile gaming startup, HashCube had secured Rs 4.2 crore funding led by Mumbai-based Nazara Technology with participation from San Francisco based entrepreneur Perry LaForge and Ah! Ventures, in November 2014.
ah! Ventures has around 10 startups in its portfolio including Catapooolt, UFaber, Ketto among others.