Eduora Receives Funding From Seeders Venture Capital
Bangalore-based online social learning start-up Eduora Technologies has received an undisclosed sum from Seeders Venture Capital.
The proceeds will be utilised to build data product and launching it in mid-November, founder Nagarjun Palavalli told VCCircle. However, he declined to give details of the monies raised.
Eduora is building an online Cloud-based platform called Eduora.com, currently in private alpha, which combines the social elements of the Internet with the tools offered by a learning management system.
"We plan to fix all the broken elements of such systems together and package it in a social network-like structure. A central system, similar to Facebook or Linked that is void of private installations," said Palavalli. According to him, the social network-like structure essentially means that students and colleges will have the same hierarchy in the network.
Seeders Venture Capital primarily funds software, mobile, Web services and gaming companies which offer differentiating products or services where Internet is a key enabler. Incidentally, education service firms have been attracting funds from strategic corporate investors, as well as private equity firms.
Last week, e-learning firm Sparsha Learning Technologies received an undisclosed sum in seed funding from venture capital firms Blume Ventures and Tempus Capital. And recently, Gulf-based entrepreneur Sunny Varkey, who owns one of the world's largest private school chains, acquired a significant minority stake in Everonn and has subsequently made an open offer to buy more shares of the public-listed firm.
The education sector has seen an increasing interest from PE players, with investments of $190 million across 23 deals in 2010, compared to 10 deals worth $128 million in 2009, according to VCCedge, the financial research platform of VCCircle.
There are several education-focused PE funds, as well as generic growth capital funds, who are now eyeing this space. For instance, Kaizen Private Equity, which is raising a $100 million fund for the sector, has secured funding from HDFC, India's largest mortgage lender, and World Bank body International Finance Corporation (IFC). Another player is Milestone Religare, with dual focus on education and healthcare.