wordpress blog stats
Connect with us

Hi, what are you looking for?

Educomp Subsidiary WizIQ Raises Rs 22 Crore From Kaizen & Bertelsmann

Authorgen, a subsidiary of Educomp Solutions Ltd, has raised Rs 22 crore from Private Equity firm Kaizen and Bertelsmann, a German media company, according to a BSE filing (.pdf). Authorgen operates WizIQ.com, a web based platform for education services providers that enables them to create virtual Classroom and Convert document to flash. The funds raised will be used for scaling the website usage. Founded in 2005 by Harman Singh and Harbir Khurana, WizIQ.com raised its first round of funding in 2006 from Band of Angels (BoA). The platform was finally launched in 2007 and also raised funding from Educomp by giving away 51% stake in the company. Educomp later upped its stake at 83%. In 2009, Educomp launched its premium accounts as a monetization strategy. The company also launched its Android and iOS app for virtual classrooms. The app can be customized for languages such as Arabic and Hebrew (right to left) and other languages like Chinese, Czech, Dutch, English, French, Polish, Persian, Portuguese, Russian, Spanish, Thai and Turkish. The company claims that its virtual classroom service has over 2.5 million students and nearly 2,00,000 teachers. The virtual classroom service is also available on the desktop via web browser. As a part of the investment authorSTREAM, an online platform that PowerPoint users around the world use to share presentation based content, will merge into WizIQ. Authorstream has about 4 million users including teachers, trainers and students, the company claims. Bertelsmann, now an investor in Authorgen, opened its corporate center in India in early 2012. Bertelsmann’s divisions has been fairly active in…

Please subscribe/login to read the full story.
Written By

Free Reads

News

The court has also restrained Bloomberg from further circulating or publishing the article titled ‘India Regulator Uncovers $ 241 Million Accounting Issue at Zee'...

News

Deep fakes in India must now carry unique IDs, says new MeitY advisory.

News

While the orders upheld the original decision by Google, the report provides a break-up of the services for which the GAC issued its orders.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ