e-learning company EdServ SoftSystems has announced that it intends to raise $35 million through a GDR issue to fund the company's expansion plans. The company's board has approved the intent and it aims to complete the entire funding process within the next two weeks. The company intends to utilize the funding for infrastructure expansion, investment in 160 additional schools, new mobile and TV offerings, up gradation of IT systems and for brand promotion, according to Edserv Chairman & CEO, S. Giridharan. The company also plans to expand its eLearning services to overseas markets targeting schools, IT skills, international test preparations and other segments. In a filing with the BSE, Edserv informs that in the wake of the fresh funding, it has upward revised its revenue guidance for the year to a 60% growth from last year's revenues of Rs 122 crore. It also expects to maintain a profitability of 30% on its top line. Foray Into Mobile Apps The company has launched a mobile platform, humthum.com, which it says, would enable the company to offer its own educational content, in addition to localized information, classifieds and utilities such as an image to PDF converter and a bar code scanner. The mobile app offers info services on the basis of the user's area pin-code. It also allows users to build their own customized mobile home pages with a .humthum.com sub-domain. The company has tied-up with BlackBerry and Samsung to offer the app in their respective app stores. Although, the humthum.com website has…
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