Corporate Updates

iDiscoveri raising $10M

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Supporting schools develop their curriculum, Lighthouse Funds may be leading the race for iDiscoveri. The leading contender for investing into education services firm iDiscoveri Education Pvt Ltd is the private equity firm Lighthouse Funds. iDiscoveri helps schools develop curriculum through its programme called X-SEED and is also involved in corporate training. iDiscoveri also provides outdoor programmes for children through a separate company called Youreka and also runs some pre-schools.

Investment Light house carries in India is channeled through its $125-million India 2020 Fund. Emails sent to Lighthouse Funds and iDiscoveri remained unanswered at the time of posting this article. BMR Advisors is running the fundraising process. iDiscoveri has been founded by former worldwide marketing director of Group Danone Ashish Rajpal. The X-seed initiative has expanded to more than 400 schools. It involves services like student curriculum, assessment, teacher education and instructional leadership.

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PE players are looking at the education sector as an attractive area for investment. It has been reported that, this calendar year has already seen 16 deals worth $175 million till date, more than double the total investments of $88 million across five deals witnessed in the whole calendar 2009.

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