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Educomp to pep up online business; inks investment deal

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Under the agreement, Kaizen PE and Bertelsmann will invest INR 220 million into Authorgen…

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.

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