Two sources familiar with the matter say that Sequoia India is considering investing over $50 million in K12 Techno Services, a startup that offers a range of services to education institutions and also runs its own chain of schools.
According to Tracxn, K12 Techno Services has raised over $75 million in previous rounds, but has decided to go ahead with a new round with existing backer Sequoia India.
The terms of the investment may change because the round hasn't closed. It's not clear if anyone else is investing in the round.
Orchids is a chain of international schools in India. It operates over 90 schools where it teaches a variety of subjects. According to its website, Orchids has served over 75 thousand students.
It also offers integrated curriculum, platform for online classes, and other school management applications. All types of schools can benefit from our solutions. They are effective for various school management activities that are designed for the growth of students.
K12's Sparkle Box sells custom made activity kits for children.
K12 didn't respond to a request for comment on Thursday.
The edtech market in India has over 300 million students going to school and participating in competitive college entrance exams. It is one of the earliest supporters of Byju's, Unacademy and Doubtnut, which serve students from kindergarten to college-bound students. Higher education is offered to students in dozens of markets.
Much of the gains made in the 13 year bull run have been reversed by the ongoing market downturn. In the South Asian market, the edtech industry has cut thousands of jobs.
All Rights Reserved © 2024
