88academics India raises funds led by Aarin Capital Partners
88academics, an online education provider, announced that it has received equity financing of around $3 million in a Pre-Series A round led by Aarin Capital Partners.
88academics(India), an 88tuition(Singapore) group company, plans to use the freshly raised funds to create India-specific content for the K-12 segment. 88tuition(Singapore) is an organization with a mission to “empower every student to achieve full potential” and is expanding rapidly in Asia.
Speaking about the funding, Anil Ahuja, Founder and CEO of 88tuition, said, “Our objective is to democratize education and make the highest quality product available to everyone at an affordable price. We are committed to building a top-quality enterprise and creating value for all stakeholders. We are grateful to all edtech companies who have pioneered the transformation in India.”
The financing round was led by Aarin Capital Partners. Its investments and exits include BYJU’S, PharmEasy, HomeLane, Faircent, etc. Prime Securities Limited served as the exclusive Investment Banker to this transaction.
Commenting on the investment, T V Mohandas Pai, Partner at Aarin Capital Partners said, “We seek to partner technology-intensive businesses in life-sciences & healthcare, education and other potentially large India-centric or India-first companies. 88academics provides us with an opportunity to invest in a sector we know well and back a highly experienced management team with a differentiated product and a disruptive business model.”
The round also saw participation from A group of highly successful professionals, including Piyush Gupta (CEO, DBS Group), Vinod Gupta (MD, VG Learning Destination and Rashtriya Gaurav Awardee), P S Jayakumar (ex-MD and CEO, Bank of Baroda), Ramesh Swaminathan (Group CFO, Lupin), Ajay Abrol (ex-Head Proprietary Trading, Nomura Singapore), Prem Rajani (Managing Partner, Rajani Associates), Akshay Gupta, and N Jayakumar (Management Team, Prime Securities).
Ganesh Agarwal, MD, Prime Securities, added, “The Indian edtech industry is valued at over $30 billion and the incumbents have significantly transformed the way education is being imparted to students. The market is ripe for a revolutionary and disruptive product that is affordable, customer-centric, scalable, and profitable. We are proud to have brought 88tuition, Aarin Capital Partners, and our growing list of HNI investors together”.
88academics India seems to be a strong player in the edtech segment with its innovative platform. I’m sure the company will soon emerge as a leading player in the market. My best wishes to the team of 88academics India.Shishir Gupta, Founder and CEO, StartupLanes
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