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“The proceeds will be used for curriculum and product innovation. Our goal is to continue to reach more schools and students,” said Sumeet Mehta, CEO and co-founder, Lead School, in an interview with ET. Last year in August, the company had
picked up $28 million in a funding round led by WestBridge Capital and Elevar Equity. WestBridge is also an investor in Vedantu, an online tutoring platform.
Lead School has partnered with over 2,000 schools. “The goal is to reach 25,000 schools in the next five years,” Mehta said. It has been focused on cities in tier two and three geographies so far. That will continue to remain their focus. The platform claims it is able to show a visible improvement in student learning with its curriculum. Class averages improved from below 60% to above 70% after adoption of their offering, Mehta told ET.
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CoLearn launched its online platform in August 2020 and has scaled to reach 3.5 million students. It has set up a technology team in India and aims to double its size by the end of 2021. People with experience in data science, product and engineering roles will be hired across India, Indonesia and the United Arab Emirates.
“Despite having the world’s fourth largest education ecosystem with 50 million students, three million teachers and half-a-million schools, the quality of education in Indonesia has remained much below its real potential for several decades,” Abhay Saboo, co-founder and chief executive officer at CoLean, said in the statement. “The scope for motivating students and ensuring they can thrive in a globalized world is what drives us at CoLearn.”
GSV Ventures Closes GSV Fund II At $180 Million
Funds seek to invest in disruptive education technology companies around the world; The firm expects the first close of its third fund later this year.
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CHICAGO, March 3, 2021 /PRNewswire/ GSV Ventures, the woman-owned multi-stage venture capital firm focused on the global education technology sector, announced the final close of its second fund, GSV Ventures Fund II, with equity commitments totaling $180 million. GSV raised its first venture fund in 2016 with limited partner commitments of $97 million, investing in a number of leading EdTech companies including Coursera, Coursehero, ClassDojo, Degreed, Masterclass and Nearpod.
GSV Ventures doubles assets managed with new fund focused on global edtech yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Schools shutdown hastens shift to online learning for some 24 January 2021 - 00:05 By Arthur Goldstuck
The explosion in online teaching during the pandemic has made educational technology one of the big winners in the venture capital industry, with SA’s delay of school opening ensuring that the momentum will continue this year.
More significantly, it has opened a path to the future of education in the country, once the government lives up to its own promises in this regard.
“The genie is out of the bottle, and there s no shoving him back in after the pandemic,” says Robert Paddock, CEO of the Valenture Institute, one of SA’s biggest “edtech” success stories. In September, it secured a $7m (R105m) investment from GSV Ventures, a global venture capital fund known for its early-stage investment in online teaching platform Coursera.