Chennai: Navneet Education Limited (NEL), one of the established leaders in the educational content provider, will be investing Rs 30 crore in EdTech companies.
Spreading its wings in the digital space, Navneet Tech Ventures Private Limited (NTVPL) the wholly owned subsidiary of Navneet Education Limited has made series of investments as a part of its overall digital strategy.
NTVPL has bought 51.8 per cent equity in Genext Students Private Limited, an education technology company engaged in the business of offering online tutoring for students.
It has also recently acquired 46.84 per cent shares in Carveniche Technologies Private Limited, a multi-channel, multi-dimension and multi-disciplinary logic analysis focussed Mathematical Thinking program beGalileo which offers live classes, AI-based learning platform, interactive content, and physical Math and logic boxes for children.
Further, it has invested 14.08 per cent equity in Elation Edtech Private Limited, operating through brand āTinkerlyā which is engaged in the business of providing STEM learning online, offline solutions to children with the help of online courses, Tinkering Lab, Innovation Lab and STEM Kits.
NEL has committed to invest about Rs 30 crore for the same and will make further investments in subsequent rounds.
As the pandemic forced lockdowns, it has boosted the digital revolution in the education industry. These investments would help in getting a stronger platform to foray into multiple facets of education including digital learning, a company release said.