Hyderabad Angels Network (HAN), a network of angel investors focused on early stage businesses, has invested Rs 2 crore in city-based Edutor Technologies.
The strategic investment was led by serial entrepreneur Sashi Reddi, founder of SRI Capital Fund and lead investor of HAN, with Rs 1 crore and other angel investors from the city, a release said on Tuesday.
Edutor Technologies, started by IIT and IIM graduates, develops and markets interactive learning platforms for touch devices like tablets PCs and iPads for K12 students to help improve their learning outcomes while aiding educational institutes in improving productivity and efficiency. The company, incubated two years ago, has offices in Hyderabad and Bangalore, and would soon expand its presence across India.
Ram Gollamudi, chief executive officer of Edutor Technologies, said, “We believe in the power of personal learning and are constantly focused on developing products that deliver engaging and effective learning experiences. This strategic investment will further boost our efforts in delivering more innovations in the learning and education space.”
“The Indian education market is expected to touch $50 billion by 2015, and so we see a huge market opportunity for Edutor Technologies in this space,” Reddi stated in the release.