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This deal was concluded through ah! Ventures’ private equity investment platform, CLUB ah!. The network recently secured its first profitable exit from ed-tech venture Harness Handitouch within 2 years of its investment. CLUB ah! has till date invested close to Rs 60 crore in over 20 start-ups.
Shirsa Lab, which aims to stimulate the intellectual and learning skills of children by using a combination of online and offline interactive methods, said it will use the funding to strengthen its team. Shirsa aims to make ‘Planet of Gui app the top ranked in the edutainment category in India, even as it looks to break into the global market.
"Kids love play online, parents want actionable information and educators can teach better when children are motivated. We have connected these points and want Shirsa Labs to be a collaborator in this exciting eco-system that must work together," said Sukhada Tendulkar, co-founder and CEO of Shirsa Labs.
"The market that Shirsa is targeting is phenomenally large. India has over 100 million students enrolled in K1- K8 which is almost 20 to 200 times that of US and UK respectively. Besides, evidence of increasing enrolment in private schools in rural India - from 18% in 2006 to 25% in 2011 to over 30% today - is proof enough that even rural India is exploring newer and innovative avenues of teaching and learning, " said Harshad Lahoti, founder & CEO of ah! Ventures, explaining his firm’s decision to go with Shirsa Labs.
Shirsa will be the second ed-tech start-up that ah! Ventures has most recently helped raised capital for; the other is iDreamCareer. ah! Ventures is in the process of closing 3 more deals in the coming weeks.