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TeamLease to acquire 40% stake in Schoolguru

Schoolguru partners universities to provide online courses for students

BS Reporter 

Stake sale
Stake sale

Staffing firm Services will acquire 40 per cent stake in Mumbai-based education technology start-up for Rs 13.5 crore (about $2 million), it said in a It will continue to be run as a separate entity following the transaction. partners universities to provide online courses for students. It was founded in 2012 by Shantanu Rooj, Ravi Rangan and Anil Bhat.

Rooj, the company’s chief executive officer, is an while Rangan and Bhat are alumnus of BITS-Pilani and MS University, respectively. In October 2015, it had raised $3 million in a Series-A round from family offices of affluent individual investors based in India and the US. In May, agreed to acquire 30 per cent stake in Bengaluru-based Cassius Technologies, which runs job portal Freshersworld, in an all-cash deal. In January, it bought Bengaluru-based Keystone Business Solutions to strengthen its information technology staffing vertical.

First Published: Thu, November 09 2017. 01:17 IST