EduKart, one of India’s premier online education companies, has secured $500,000 in funding from a consortium of early-stage institutional and angel investors. The group includes Kima Ventures, Amit Patni and Arihant Patni, AKM Systems (Shiven Malhotra), Vibhor Mehra (ex-partner of SAIF Partners) and alumni from Stanford University.
Coincidentally, Delhi-based EduKart was also started by alums of Stanford University, as well as graduates from the Indian Institute of Management.
The fresh cash will be deployed to accelerate EduKart’s growth, launch new courses in partnership with both Indian and international institutions, and strengthen its franchisee network.
Jeremie Berrebi, co-founder and partner of Kima Ventures, which led the funding round, says:
“Online education is exploding across the world. We believe that India and other emerging economies have massive scope for leveraging online education to delivering high quality education to the large young demographics available in the countries.
We are sure EduKart will continue to grow to become a larger and more important player in the space going ahead.”
Meanwhile, check out this interview with Ishan Gupta, CEO of EduKart, where he discusses starting up and 18 months of EduKart.
Image credit: Thinkstock
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