Jun 24, 2011, 04.16 PM | Source: PTI
Fidelity Growth Partners India (FGPI), today said that it has invested up to USD 15-million to acquire a significant minority stake in Mind Shaper Technologies Private Limited.
Branded as Classteacher Learning Systems, the company is a pioneer in K-12 educational content in the country.
The investment will be used to further the company’s product portfolio and strengthen Classteacher’s role as an organisation that combines technology and innovation as part of its commitment to education, a press release issued here stated.
Presently, the company has one of the largest repositories of digital education content in the industry with about 85,000 teaching modules mapped to multiple education boards.
The company offers an integrated solution to assist teaching in classrooms using software, hardware and school support services. This provides an ideal platform to make learning an enjoyable and enriching experience, the release
As a part of this investment Kabir Narang and Raul Rai with FIL Capital Advisors (India), the private equity advisory arm for FGPI, will join the Board of the company.
Commenting on this, Narang said, "we are excited to partner with Mind Shaper Technologies and be a part of the large and growing education sector. The company has an exhaustive content library that can be leveraged beyond
digital whiteboards, a reference base of leading schools across the country and a strong management team."
Classteacher Learning Systems' CEO, Rohit Pande, said "this investment will help us enhance our product offering as well as expand into new segments of education. We see this as a key milestone in our evolution and are glad to partner with FGPI to achieve our goal to support learning and teaching in classrooms across India."
Classteacher Learning Systems is a pioneer in educational content in the country with over 85,000 modules, 500 schools and 0.5-million students, providing consulting and innovative technology solutions in the area of school
Classteacher focuses on providing measurable technology-driven learning outcomes with standardised education solutions.
Fidelity Growth Partners India is the India-focused private equity arm of Fidelity International, focused on cross-sector growth capital investing. FGPI seeks to invest in high-quality, high-growth companies in India across a broad range of sectors with typical investment sizes ranging from USD 10-million to USD 50-million.