iDiscoveri Education announces raising private equity funding from Lighthouse Funds’ India 2020 Fund. Lighthouse has picked up a minority stake in the company.
Commenting on the transaction, Ashish Rajpal, Founder, iDiscoveri said: "We are happy to partner with Lighthouse. They understand our work and have shown great confidence in the company and its management.”
Mukund Krishnaswami, Director, Lighthouse Advisors India Private Limited said: “We are very excited about the opportunity to partner with Ashish and the iDiscoveri team. We believe in the company’s vision, and look forward to iDiscoveri emerging as India’s most powerful education brand.”
iDiscoveri is an innovative education company focused on learning and leadership. Led by alumni of Harvard, IIM, IIT, XLRI, iDiscoveri has high-quality proprietary content, training, and assessment capabilities. Its flagship program XSEED, a path-breaking and comprehensive solution for quality teaching and learning in K-12 schools, reaches over 400 schools and 140,000 students across the country, including leading institutions like Padma Sheshadri Chennai, Bombay Scottish and Hyderabad Public School. In addition, iDiscoveri runs a network of learning centers, a leadership consultancy, and owns an outdoor education company.
Lighthouse’s India 2020 Fund focuses on growth equity investments in India’s middle market sector. The Fund has made nine investments in India, including premium cookie manufacturer Unibic Biscuits, and facilities management firm Radiant Hospitality.
BMR Advisors (www.bmradvisors.com) acted as the sole transaction and financial advisors to iDiscoveri.