Mind Shaper Technologies, the company that runs Classteacher Learning Systems has raised upto $15 million from Fidelity Growth Partners India(FGPI) for a minority stake in the company, reports PTI. Mind Shaper intends to use the funding to expand its product portfolio, and for new product development. Following the investment, Kabir Narang and Raul Rai of FIL Capital Advisors (India), the private equity advisory company for FGPI, will join the Board of Mind Shaper.
Classteacher provides digital solutions in the K-12 education segment, and provides consultancy services to schools in deploying them for management and administration, and in teaching and evaluation. Its products include interactive classrooms, online assessment solutions, solutions for setting up math, science and language labs, a web based learning system and a portal for networking schools, parents and students, among others.
What’s interesting about Classteacher, is that it claims to own a content library of 85,000 digital modules, and has a tie-up with 500 schools across India, covering 0.5 million students.
Other players in the digital education solutions space include Educomp and TutorVista, besides a number of other e-learning solutions providers that focus mainly on entrance and education board exams. Recently, iProf, an e-learning company that offers a personal education tablet device and runs a chain of Wi-Fi-enabled e-learning centers across India, had raised Rs.22 Crores in funding from Norwest Venture Partners and IDG Ventures India, and followed it up with Rs 5 crore from Kaplan.