Avanti Learning Centres raises Rs 33 cr

Investment to help firm expand to 400 centres over five years

Avanti Learning Centres today said it has raised Rs 33 crore in third round of funding led by the Michael & Susan Dell Foundation.

Avanti provides coaching for science, mathematics and engineering entrance exams across India. It currently runs 39 centres in 20 cities.

This investment round will help Avanti to expand to 400 centres over the next five years with capacity to serve 50,000 students across India, the company said in a statement.

Avanti is also expanding its footprint in grades 9 and 10, and the capital will help to continue with its curriculum and technology development, it added.

"This new funding round will take us to profitability and help us rapidly move closer to achieving our goal of reaching 100,000 students over the next five years," Avanti Learning Centres CEO and Co-Founder Krishna Ramkumar said.

Existing co-investors Ted Dintersmith and Pearson Affordable Learning Fund (PALF) along with a new investor, Pramod Bhasin and Vikram Gandhi joined the Michael & Susan Dell Foundation through the Asha Impact platform for this round of investment in Avanti.

"Avanti uses technology to increase access to high quality, affordable education for all student socio-economic segments, beyond traditional Indian educational hubs," Prachi Windlass, Director of Education, India, Michael & Susan Dell Foundation said.

The Michael & Susan Dell Foundation has committed Rs 16.2 crore in this round and had provided Rs 5.6 crore in early 2015.