Edited excerpts from the press release:
Fidelity Growth Partners India (FGPI) is to invest up to $15M to acquire a significant minority stake in Mind Shaper Technologies Private Limited. Branded as Classteacher Learning Systems, the company is a pioneer in K-12 educational content in the country.
The investment will be used to further the company’s product portfolio and strengthen Classteacher’s role as an organization that combines technology and innovation as part of its commitment to education. At present the company has one of the largest repositories of digital education content in the industry with about 85,000 teaching modules mapped to multiple education boards. The company offers an integrated solution to assist teaching in classrooms using software, hardware and school support services. This provides an ideal platform to make learning an enjoyable and enriching experience.
As part of this investment Mr. Kabir Narang and Mr. Raul Rai with FIL Capital Advisors (India), the private equity advisory arm for FGPI will join the board of the company. Commenting on this, Kabir Narang said “We are excited to partner with Mind Shaper Technologies and be a part of the large and growing education sector. The company has an exhaustive content library that can be leveraged beyond digital whiteboards, a reference base of leading schools across the country and a strong management team”.
Mr. Rohit Pande, CEO, Classteacher Learning Systems, 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.”
About Classteacher Learning Systems:
Classteacher Learning Systems is a pioneer in educational content in the country with over 85,000 modules, 500 schools and 0.5 million students, providing consulting and innovative technology solutions in the area of school education. Classteacher focuses on providing measurable technology driven learning outcomes with standardised education solutions.
About Fidelity Growth Partners India:
Fidelity Growth Partners India (FGPI) is the India-focused private equity arm of Fidelity International, focused on cross-sector growth capital investing. FGPI seeks to invest in high-quality, high-growth companies in India across a broad range of sectors with typical investment sizes ranging from $10 million to $50 million. FGPI is committed to making the companies it invests in leaders in their industries through access to patient capital with a long term investment mindset, a powerful network of resources and a team of investment professionals with a proven track record of success.