Education-based Leadership Boulevard Pvt. Ltd which operates education-technology company LEAD School received funding of $28 Million (about 210 Crores) in a Series C funding round led by private equity firm WestBridge Capital. Elevar Equity also participated in the investment. Elevar has also invested in the company two times before and remains one of the major stakeholders of the company.
The Company says it has so far partnered with around 800 Institutions in 15 different states. LEAD School was founded by Sumeet Mehta and Smita Deorah in 2012. The company started by running affordable schools for middle-class household children. It then built out its platform, the LEAD School Integrated System, which it began offering in 2017. The main of the company is spreading education and educating the maximum Youth of India.
The capital company has raised in Series C round of funding will be used for the development of the project, to reach out more youth, increase marketing operations and rollout of new product offerings, as well as increase its school networks in Tier-II and Tier-III cities.
Capital will also be used for hiring new talented teachers and build a talented team for an insightful impact of the company on youth and parents.
“In the last three years, we have seen rapid adoption by schools and class averages improvement from below 60% to above 70%. During this [coronavirus] pandemic too, our Integrated System has enabled schools to deliver an uninterrupted learning experience for all students,” said Sumeet Mehta in an interview.
Sandeep Singhal, Managing Director of West Bridge Capital Firm showed whole support and faith in the company and said that the reason behind the investment is they liked the approach of the company to provide with high quality and accessible education to the young minds of our country. He also added that “In the last few months, the ed-tech sector has evolved rapidly, changing the trajectory of the Indian education system multifold,”
Other Deals In Ed-tech Platform
Some of the biggest ed-tech has started making acquisitions to fill the gap, explore and expand their operations. Earlier this month, Byju’s which is one of the biggest ed-tech platforms acquired White Hat Jr which is a coding platform to expands its arenas in the field of coding.
Similarly, Facebook likes-backed Unacademy acquired Prep Ladder last month which is a platform for the preparation of medical entrance examinations. With this acquisition, unacademy tried to improve its medical education platform and reach out to more students.
Last week, online climate school Terra.do Inc. gained $1.4 Million in seed funding led by a few early-stage investment firms, including Beenext, technology-focused fund Rainmatter Capital and Stanford Angels & Entrepreneurs (India).