It has inked deal with Kaizan Private Equity and Bertelsmann to raise investment in its subsidiary Authorgen, an e-Tutoring and online education company
New Delhi: Educomp Solutions Ltd has announced that it had signed an agreement with Kaizen Private Equity, private equity fund focused on the education sector, and Bertelsmann, a global media company with interests in publishing, media and Internet services, to raise investment in its subsidiary Authorgen, an e-Tutoring and online education company.
Authorgen operates WizIQ.com, web based platform for education service providers to teach live and online in an easy-to-use and free virtual classroom. Over 150,000 teachers and 2 million learners currently use WizIQ’s e-learning services.
Under the agreement, Kaizen PE and Bertelsmann will invest Rs 220 million into Authorgen. The funds will be used for growth capital and further up-scaling the usage of the website.