Fidelity Growth Partners India (FGPI) has invested upto $15 million to acquire a minority stake in Mind Shaper Technologies, the company behind Classteacher.com. The investment would be used to expand ClassTeacher.com’s portfolio.
Classteacher.com provides technology solutions to primary and secondary schools. It started 10 years ago and now has over 500 schools and more than half a million students using their technology. The company’s catalogue boasts of an impressive 85,000 teaching modules spanning across different educational boards.
It has software and hardware solutions for schools to assist them in management, administration, productivity and communication. They also have an offering called ‘Virtual School’ which is an internet based platform to connect students, parents and schools.
Commenting on the funding ClassTeacher.com CEO Rohit Pande said:
“This investment will help us enhance our product offering as well as expand into new segments of education. We see this as a key milestone in our evolution and are glad to partner with FGPI to achieve our goal to support learning and teaching in classrooms across India”
Cloud based platforms are increasingly being adopted into education. Wikipedia had recently partnered with Pune colleges to integrate the wikimedia platform into the students’ curriculum. Just a few days ago NIIT launched Cloud Campus which helps student leverage the cloud to learn anywhere, anytime. iProf, another such company which offers tablets and wi-fi centers to assist in education had raised Rs. 22 crores to expand.
There are about 1.6 million schools in India, and only a fraction of them have integrated technology into their daily working. There is a huge scope of growth for ClassTeacher.com and other such companies which investors hope to cash in on.