Hyderabad-based Medical Education Research Centre for Education Technologies (MEdRC EduTech), an e-learning content production, multimedia software development and animation provider in the medical education space, is looking at raising Rs.30 crore. The company is in the final stage of discussions with a US-based venture capital fund with fund size of more than $10-billion catering to the healthcare space.
The due-diligence process is over, and the deal may close in a month or a week. The money will be used for three purposes - developing content, expanding infrastructure and marketing activities, and for entering into the retail market (selling digitised content directly to students). Apart from expanding in the Indian market, the company also plans taking the services to countries like the West Asia, Malaysia and the US by next year. Since inception, MEdRC EduTech has invested Rs.22 crore backed by company promoters.
Source: Business Standard
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