IL&FS Education & Technology Services Ltd. (IETS), the social infrastructure arm of IL&FS Group, launched ‘Geneo’, a personalized digital learning platform targeting the K-12 segment. This would be the entry of IETS into online education. The platform has been developed in technical collaboration with Google for Education, the company said in a statement.
In the initial phase, Geneo will leverage IL&FS Education’s base of 10 million students. Geneo uses an app-cloud model that provides students with curated digital content from multiple sources. It offers round-the-clock remote mentor support and is accessible using on mobile phones, laptops, PCs, tablets, and chromebooks.
The content is provided by partners such as English Helper, Avanti, Simulanis and Educe along with prescribed textbook syllabus.
Geno also provides a number of vocational training programs as well. Currently, it offers online courses for sewing machine operators, helper masons, TIG welding, electricians, retail sales associates and retail associates and BPO employees. Meanwhile, it also provides courses for learning English. It has a course which is instructor-led in offline classrooms and a web-based course
Byju’s is one of the biggest competition for IETS. The education startup has in September last year, raised $50 million funding from the Chan Zuckerberg Initiative (CZI), Sequoia Capital, Sofina, Lightspeed Ventures & Times Internet. It had previously also raised $75 million from Sequoia Capital and Sofina in March last year. In December it raised an undisclosed amount from International Finance Corporation. In January, it acquired Vidyartha. In March this year, it raised an undisclosed amount of funding from Verlinvest, an investment firm based in Belgium. At the time of funding, it said the funds will be used for further acquisitions and to expand internationally.
Other than Byju, Vedantu also acts as a competition. Vedantu provides live online tuitions for students. The company had raised $5million in 2015 from Tiger Global and Accel Partners. There are other startups such as Unacademy that mainly work in the area of competitive exams.