Rise India acquires 60% stake in Padhopadhao for Rs 1.5 cr

Investment firm Rise India has acquired 60 per cent stake in home tutors aggregator portal Padhopadhao.Com for Rs 1.5 crore.
"Padhopadhao.Com is a much-needed effort to improve home tuition in India. Currently an unorganised sector, however, there is a lot of scope in the home tuitions industry. Our effort is to organise this industry in the next few years," Rise India CEO Ajay Chhangani said in a statement.
Rise India plans to invest additional Rs 5 crore in future, the statement said.
Started in 2014, the startup firm Padhopadhao.Com provides private tuition solutions covering Delhi-NCR with 48,000 registered tutors serving more than 60,000 students.

Through this coalition, the portal will be able to expand its operation and establish its presence across major metro cities such as Mumbai, Jaipur, Chennai, Chandigarh, Bengaluru and Hyderabad, it added.
There will be no change in management as co-founders Hemant Garg and Akhilesh Kumar will continue to represent Padhopadhao.Com, the company said.
"Padhopadhao.Com is the future of home tutoring industry in India and with Rise India's support we will be able to accomplish our goals to provide affordable, hassle-free and quality home education globally," Garg said.