Sequoia, SONG invest Rs 70 crore in K-12 Techno

Venture capital funds, Sequoia Capital and SONG Advisors, have invested $15 million (Rs 70 crore) in Andhra Pradesh-based K-12 Techno, a school management company.

K12 Techno Services founder and chairman M Venkatanarayana said, “Plans are on to expand our operations to 200-300 schools by 2013-14, with investments from venture capital firms.” The company would spread its services to Orissa, Chhattisgarh, Maharashtra and Karnataka and for each school the investment would be Rs 40-50 lakh.

KP Balaraj, managing director, Sequoia Capital India, said, “We are interested in investing more in the education sector.”