Rise India Plans to Invest Rs 35Cr in Education Startups

Image Source: e-learningstudios.

Image Source: e-learningstudios.

Gurgaon-based Rise India, an aggregator in the education sector which provides training and placement to students, plans to invest Rs 35 crores in ed-tech startups. The two-year old startup is looking to reach over 1,000 schools in the next two years.

It offers training and placement in six industries including retail, IT, BFSI and construction. The startup had acquired training firm ICFE for a deal amount of Rs 10 crore in 2012, has a minority stake in Delhi-based English training firm Visionet, and has a joint venture with Coimbatore-based RVS Group.

Founded in 2012, Rise India is looking for startups that offer technology solutions for school, lab-based activity and those that make robust information management systems.

Other education startups like Simplilearn, TestBook, SuperProfs, GradStack and SkillPro have also raised funding recently. Bangalore based online education platform, Simplilearn has closed $15 million in Series C funding led by Mayfield with participation from Kalaari Capital and Helion Venture Partners.

In December 2014, Bangalore-based online education startup SuperProfs, which offers online courses for competitive exams like CA, CS and GATE etc., had secured $3 million (Rs 18 Cr)  in Series A round led by Kalaari capital and IDG Ventures India. In March last year, a Delhi based education marketplace, GradeStack has raised an undisclosed amount of funding from Times Internet.

Hyderabad-based SkillPro had also secured Rs 18.3 crore from the National Skill Development Corporation in debt funding. Online exam preparation site Testbook, had secured Rs 1.5 crore led by a Delhi based investor, Utsav Somani and MD of Carlyle Group, Shankar Narayanan along with other angels from different sectors.