iDiscoveri raises $10 million from Lighthouse India
Date: Sunday , October 03, 2010
Gurgaon based education company iDiscoveri India has raised $10 million in private equity funding from India 2020 Fund in return for a minority stake in the company. India 2020 Opportunity Fund is a $125 million fund managed by Lighthouse Funds. It invests in financial services, education, logistics, light manufacturing and food processing companies.
Founded in 1996, iDiscoveri will be use the investment to expand its services. "We have established a good proof of concept and now we will look to bring in new technology and take it across rest of India," says Ashish Rajpal, Founder & CEO, iDiscoveri.
iDiscoveri enables schools to develop curriculum through its programme called XSEED and is also involved in corporate training. XSEED involves services like student curriculum, assessment, teacher education and instructional leadership. The X-seed initiative has expanded to more than 400 schools and 140,000 students across the country. Some of these schools include Padma Sheshadri Chennai, Bombay Scottish and Hyderabad Public School.