Karadi Path Education, a Chennai-based education services company, has raised $2.3 million in a Series-A round of equity capital from the Pearson Affordable Learning Fund and existing investor Aavishkaar India II Company.
Unitus Capital and Economic Laws Practice, Mumbai, advised the firm on this transaction. Karadi Path will use the money in product development and organisation building. It provides programmes to deliver English language proficiency to children and adults.
Karadi Path is currently being used by over 1,000 schools reaching over 200,000 students. While the current focus is English language learning, the pedagogy is being applied to develop programmes for other languages as well, said the company.
The company has also rolled out solutions for adults based on the Karadi Path pedagogy which are being deployed by colleges and skill development programmes.
C P Viswanath, Co-Founder & CEO, Karadi Path, said that in the last three years, the company has managed to grow to over 1000 schools. “This partnership with PALF, part of the world’s leading education company, and Aavishkaar, one of India’s most successful early stage funds, will help Karadi Path grow its presence at a rapid pace.”