Reliance Industries to acquire 72.69% stake in Indiavidual Learning (Embibe)

To form India's largest AI based education platform

Reliance Industries executed definitive agreements on 12 April 2018 to acquire majority shareholding constituting 72.69% (on fully diluted basis) from existing investors of Indiavidual Learning (Embibe), a leading AI-based education platform leveraging data analytics to deliver personalized learning outcomes to each student.

Reliance has agreed to invest upto Rupee equivalent of US$180 million into Embibe, (including consideration to be paid for acquiring majority stake from existing investors) over the next three years.

Embibe will use the capital over the next three years towards deepening its R&D on AI in education, as well as business growth and geographic expansion, catering to students across K-12, higher education, professional skilling, vernacular languages and all curriculum categories across India and internationally. The founder and CEO of Embibe, Aditi Avasthi will continue in her leadership role and will drive the growth of the business.

 

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