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Suhas led Globals raises funding from foreign investors

By SiliconIndia  |   Thursday, 14 July 2011, 13:05 Hrs
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Suhas led Globals raises funding from foreign investors
Bangalore: Globals ITeS, which develops technology solutions for the Education space along with Web, e-commerce and Mobile based solutions, has secured strategic investments from two strategic investors, Encore Operating Partners, Mauritius, and Commonwealth Education Trust, U.K. As a result of this funding, the company will dilute about 38 percent stake to both the partners. It is the first round of funding raised by the company.

Suhas Gopinath started Globals in the year 2000 at the age of 14 from a mere cyber caf? in Bangalore. "Globals has carved a name in the education domain globally. The funds will be utilized towards developing cloud-based products in the Education Space such as ERP Systems for K-12 Educational Institutions to manage the student lifecycle, administration of the school, staff management, payroll, fees, timetabling and more; low-cost Tablet PCs and Online Teacher Training platforms. educationERP.net is deployed in more than 150 schools across India, Singapore and Mauritius. The investment from global firms will enable us to make quality education accessible and affordable at bottom of the pyramid," says Suhas Gopinath, Chairman and CEO, Globals.

The U.K.-based 1886 Investments is the operating and investment arm of The Commonwealth Education Trust, founded in 1886 by Prince Edward, Prince of Wales. "1886 is seeking to establish long-term commercial partnerships through investment in organizations that support the education sector, have the right leadership and have potential for growth and we believe that Globals is one of this kind," says John Picknett, Managing Director, 1886 Investments.

Three industry veterans founded Encore Operating Partners, Mauritius, as a unique ecosystem for entrepreneurial growth companies. "Suhas Gopinath and his team at Globals have created a unique organization built on Passion, Commitment and Belief in their mission. The acknowledgments and accolades they have raised from renowned bodies, heads of states and prominent institutions across the globe is proof of their abilities and performance. The Globals investment, we believe, encapsulates our investment philosophy in totality, which is to provide money, management bandwidth and market access to energize, enhance and enlarge entrepreneurial early growth companies," says Hari Padmanabhan, Chairman, Encore Operating Partners, Mauritius.

Gopinath was recongnised as the world's youngest certified Professional Web-developer through his project coolhindustan.com. He started Globals at San Jose, California, as the Indian law does not allow a minor to setup a company in the country. From then, Globals has drastically grown as a Multi-national IT consulting company focused on Web, e-commerce and Mobile Solutions. He is also serving on the ICT Board of the World Bank Group and World Economic Forum Advisory Board.

"We have offered educationalERP.net as a pay per student per month model, which enables educational institutions to streamline their administrative and academic process. Globals will use these funds to build cloud-based products in the Education Space," adds Gopinath.

Apart from educationERP.net, they are launching eBag-low cost tablet PCs for students and teachers in India, Middle East and Africa and also on Online Teacher Training Platform.

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