Kedaara Capital has announced an investment in education and technology services provider K-12 Techno Services Private Limited. The investment will also facilitate a partial exit for Peak XV Partners (formerly known as Sequoia Capital India), the company said in a press release.

Share Market Live

NSE

CNBC-TV18 was the first to break this news, when sources informed last month that Kedaara may invest $130 m (approx Rs 1,000 crore) in K-12 Techno Services. It is likely to buy-out an existing investor and infuse fresh capital, according to sources.

Although the current investment numbers have not been disclosed right now sources had added earlier that private equity investor Kedara Capital is likely to invest close to Rs 1000 crore into K-12 Techno Services.

K12 Techno Services is a technology and education services company, offering a comprehensive range of education, content, and technology solutions to over 900 educational institutions nationwide.

"We are delighted to welcome Kedaara as a valued partner for the next phase of our growth, as it symbolizes a convergence of values and aspirations, and will help us continue to deliver on our mission to make an impact in the K-12 space in India," said Jai Decosta, CEO of K-12 Techno Services

The company's brand, content, and technology platforms are currently benefiting more than 300,000 students in the K-12 sector throughout India. Over the past five years, K12 Techno has achieved a revenue Compound Annual Growth Rate (CAGR) of approximately 40 percent.

According to K12 Techno Services this collaboration will bolster the company's tech-enabled offerings, aimed at delivering world-class holistic education services to students and schools in India.

“K12 Techno has done tremendous work to help schools bridge this gap by leveraging technology and process orientation. We are excited to partner with Jai and the K12 Techno team to help them accelerate their growth and further their goal of providing world-class holistic education services across India at affordable price points,” said Sunish Sharma, Founder and Managing Partner and Anant Gupta, Managing Director of Kedaara Capital.

Why is Navneet Education is in focus?

Navneet Education owns close to 22 percent stake in K-12 Techno Services ad per the company's last investor presentation. Further a sharp upward revision in the valuation of K-12 Techno Services will benefit the company.

What does K-12 Techno Services do?

The company provides elementary education to students from Kindergarten to class 12.

Founded in 2010, K12 Techno Services Private Limited has been at the forefront of educational innovation in India, offering dynamic academic support, services, and solutions to educational institutions.

First Published:Sept 14, 2023 1:49 PM IST