Department for Promotion of Industry and Internal Trade nominated non-official members representing various stakeholders. Byju Raveendran, Deepak Garg, Mohandas Pai, Uday Shankar make it to the list
Synopsis
The investors are also expected to broach sensitive topics such as flipping of Indian origin companies to foreign jurisdictions to get easier access to capital.
ETtech
Around 40-45 global as well as domestic investors are expected to present a list of key demands to the government in two separate closed-door sessions as part of Prarambh, a Startup India initiative.
These include enabling financial institutions such as the Life Insurance Corporation of India (LIC) and the National Pension Scheme (NPS) to back venture capital funds and giving a 10-year visibility on taxation rules.
ET has learnt that funds including KKR, Blackstone, Accel, Lightspeed, Sequoia Capital, Fairfax, True North, Multiples, Saama Capital and 3one4 Capital will present their recommendations in meetings attended by Union Minister of Commerce and Industry Piyush Goyal along with senior officials from the Securities and Exchange Board of India, Reserve Bank of India, Insurance Regulatory and Developm
Byju s to Acquire Blackstone-Backed Aakash Educational Services for $1 Billion
Aakash Institute which has over 200 brick and mortar centers and tutors students have gained entry into the country s elite engineering and medical schools
| 14 Jan 2021 5:55 AM GMT
NEW DELHI: India s popular online-education startup- Byju s is all set to acquire brick & mortar test prep leader Aakash Educational Services Ltd. for $1 billion.
Byju s current market value is capped at $12 billion and due to the present pandemic situation globally, the online startup is aggressively looking at expanding as the demand of online classes has gone up since 2020.
According to Bloomberg, the deal which is said to be sealed in two or three months time will be one of the largest edtech acquisitions in the world.
Simplilearn in talks to raise funding at a valuation of $700 million
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Synopsis
Simplilearn s fundraising move comes at a time when Indian edtech startups led by Byju s and Unacademy are mopping up investor dollar amid a pandemic-induced surge in online education.
ETtech
Simplilearn is expected to close the funding round in about a month at a valuation of $700 million. (Illustration: Rahul Awasthi/ETtech)
Mumbai: Edtech startup Simplilearn is in talks with global funds to raise $100-$150 million, as it seeks to provide partial exits to some early investors and raise primary capital for business expansion, sources close to the development said.
Amazon.com Inc has launched an online academy to train students for one of India s most competitive college entrance tests, the e-commerce giant said on Wednesday, as it taps a boom in virtual learning during the COVID-19 pandemic. Amazon Academy , available as a website and an Android smartphone app, will offer learning material, live lectures and assessments to help students prepare for the Joint Entrance Examination (JEE), which allows entry into top engineering schools across India. Content on the platform is currently available free and will remain free for the next few months , Amazon India said in a statement. Each year, close to two million aspirants to coveted undergraduate engineering courses take the government-run JEE, for which some take additional classes with private tutors. Many of those tuition centers have either moved online or shut during the pandemic.