iProf Learning Solutions India, the e-learning company that offers a personal education tablet device and runs a chain of Wi-Fi-enabled e-learning centers across India, has secured Rs.22 Crores in Series A funding from Norwest Venture Partners (NVP) and IDG Ventures India (IDGVI), reports VCCircle. The capital will be used to expand iProf’s e-learning centers (iProf iStudy Zones) in metros and tier 2 and 3 cities across the country and in overseas markets, as well as bring new iProf products to market. Mohan Kumar, Executive Director, NVP India, and Sudhir Sethi, Founder, Chairman & Managing Director, IDGVI will join iProf’s Board of Directors. iProf also announced a tie up with Open University, IGNOU, which offers diploma and degree programs through distance learning. Through the tie-up, IGNOU will conduct diploma programs for 75 of its courses on the iProf platform. The company had said last year, that it was looking to mobilise investment worth Rs 100 crore for its entire e-learning eco system by the end of 2011. iProf runs 20 e-learning hotspots called iStudy Zones, and aims to increase this number to 100 by this year. The centers are being operated both on a company owned and franchisee basis. Financials According to the annual report filed by iProf Learning Solutions India Private Limited, the company reported a net loss (before tax) of Rs. 78.83 lakhs for the financial year ended 31st March 2010, after providing depreciation of Rs.1.33 lakhs. It's turnover for the year was Rs 17,95,094, Total Expenditure was Rs 96,78,141,…
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