Video-based learning solutions Linkstreet has raised an undisclosed amount in Series A round of funding from Faering Capital India Evolving Fund. The company plans to use the funds for product and business development.
As a part of the investment, Faering co-founders and managing directors, Aditya Parekh and Sameer Shroff will join the Linkstreet board, along with Mu Sigma managing director Ganesh Lakshminarayanan.
Founded by Vikram Ramakrishnan and Arun Muthukumar in 2011, Linkstreet offers an online learning & collaboration platform that includes a course creator, live video functionality, a video repository and various e-commerce solutions, enabling companies to create hosted online learning portals. These solutions are available in various modules and companies can pick their preferred modules and only pay for these modules.
Linkstreet offers this solutions across various verticals like educational institutions, corporates and individuals like musicians, photographers and doctors among others and its clientele include IIM Bangalore, ISB Hyderabad, Children’s Heartlink -US, MIOT Hospitals, Columbia Asia, Teleradiology Solutions, Indo-British Health Initiative and Takshashila Institution among others.
Investments in online education segment
– Bangalore-based online-offline higher education services provider iNurture Education Solutions had raised Rs 30 crore investment from Bertelsmann India Investments (BII) in October this year. Student assessment firm Xamcheck had also raised $1.8 million from Aspada Investment company in the same month.
– In June this year, Careers360 had raised an undisclosed amount of investment from five angel investors led by Ranjan Pai of Manipal Group, Satya Narayanan of Career Launcher, Mahesh Murthy of Pinstorm and two other undisclosed financial investors. The company had stated plans of using this investment to build a education marketplace called myCareers360.
– In May this year, Mumbai-based online test preparation service Toppr had raised $2 million from Helion Venture Partners and SAIF Partners. Online education platform Embibe which offers a similar test preparation service, had also raised $4 million from Kalaari Capital and Lightbox Ventures in the same month.
– Mobile-focused education marketplace GradeStack had raised an undisclosed amount of investment from Times Internet in March this year.