Sequoia India is reportedly planning an investment of more than $50 million in K12 Techno Services, an edtech startup that provides a variety of services to educational institutions as well as managing its own school chain.
The transaction occurs when the Indian edtech sector is still suffering from a cash crunch. Sequoia, along with Belgian investment fund Sofina and Navneet Learning, is already a shareholder in K12 Techno Services. According to sources, the phygital edtech startup has also met with TPG and Accel recently.
The startup’s promoters left the company in 2016, and Sequoia Capital India eventually acquired their interest. Additionally, Navneet Learning LLP has a substantial stake in the platform.
In cities like Bengaluru, Delhi, Mumbai, Pune, and others, it operates about 90 schools under the brand name Orchids – The International Schools. According to their portal, Orchids has assisted over 75,000 pupils.
K12 Techno Services offer niche products for school management platform and schools
K12 Techno Services, a company founded in 2010, runs four companies that sell specialized goods in markets like schools and school management platforms. It runs several items that are aimed at students in both print and digital versions.
UnleashEng is a platform for learning English for kids that K12 owns. Over 300 schools can also access an integrated curriculum, a platform for virtual classrooms, and other school management tools through its subsidiary Let’s Eduvate. Sparkle Box, another K12 subsidiary, sells activity packages for kids through its online site.
Sequoia formerly supported Byju’s, Unacademy, and Doubtnut. It also invests in Eruditus, a business that offers higher education in several international locations.