Telecom operator Bharti Airtel announced that it had acquired a “strategic stake” in edtech start-up Lattu Kids, making it the fourth company to join the Airtel Startup Accelerator Program. Airtel did not reveal the amount of money it has invested in the start-up, but said that the stake will help it in adding edtech content to its digital network which, according to Airtel, has over 160 million monthly active users, in a press release sent on Wednesday. This development comes after Reliance invested ₹500 crore in edtech startup Embibe in April.
Lattu Kids, an app by a Mumbai-based company called Lattu Media, focuses on digital content around English reading and vocabulary, and mathematics. The company was co-founded by former Star India executive Vivek Bhutyani. The app is currently only available on Android, and had over 100,000 downloads at the time of publishing.
The COVID-19 related lockdowns in the country have meant that schools and colleges in the country have been shut since at least March 25, if not earlier. This has led to several schools adopting the virtual route for conducting classes over the internet, presenting an opportunity for edtech startups in the country. In fact, Airtel estimates that the edtech industry in India will be worth more than $2 billion by 2021.