Unacademy in talks to invest in school chain Orchid
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ETtech
Illustration: Rahul Awathi
Edtech major Unacademy is in talks to buy a significant stake in Sequoia Capital-backed K12 Techno Services, which runs the Orchids International chain of schools, two people aware of the development said.
If the deal materialises, it’ll be the first such bet made by an edtech startup in India on a physical school chain.
K12 is also backed by Sofina, making the Belgian investment fund and Sequoia Capital, common investors in both the companies.
Sequoia is likely to exit Orchid through this transaction, the people cited earlier said.