Mumbai-based hybrid tuition platform Genext Students has raised anonymous funds from educational material supplier Navneet Education Limited (NEL).
With the round of funding, Navneet Tech Ventures Pvt Ltd, a wholly owned subsidiary of NEL, has bought a 51.8% stake in Genext.
Genext students offer live online classes for students in grades 5 through 12. It also offers online study material tutorials, e-books, audio-video materials, practice questions and sample papers. Parents can find home teachers based on their location and topic and book demo sessions. This one-of-a-kind platform brings quality home educators (online and offline) with proprietary content to the doorsteps of parents / students, using technology as a key divider. It enables personalized learning for students and provides updates to parents.
Launched in February 2013 by Ali Asghar Kagzi and Asad Daud, Genext students combine private tutoring with technology-enabled education for CBSE, ICSE and state boards. In addition to distributing content in English, Genext claims to be the first Adtech company launched by Hindi students for Hindi medium students in India.
Speaking about the company, Ali Asghar Kagzi, co-founder of Genext Students, said,
“GenextStudents is a full-stack Adtech solution that provides education services for the K-12 department. Over the years we have developed a very strong technology ecosystem that brings together all three pillars of education शिक्षक teachers, students and parents. Already raised two rounds of funding , We are looking for strategic partners who will not only provide us with financial support, but who can better understand the space of education and provide us with strategic support to take the company to new heights. “
The company said it would use the new funds to create technology products for the teaching community, strengthen the technology ecosystem and expand its reach.
Over the years, Genext students have successfully formed strategic partnerships with reputed companies such as Samsung, Intel, IBM, Vodafone-Idea, Airtel, PVR, etc.
Ketan Gala, President, Navneet Education, said,
“Navneet is the largest listed educational institution in India with a market capitalization of over Rs 2,000 crore. After reaching more than 50,000 schools and institutions, 5 lakh teachers and over 1 crore students, Navneet has grown aggressively for content, knowledge and Genext students. Are leading the way in embracing the latest trends in the education industry. “
Gala added, “Even after the end of the epidemic, technology will continue to play an important role in the education sector – for learners and teachers.”
Earlier this week, Navneet Tech Ventures invested about $ 884,000 (INR 6.5 crore) in Jaipur-based Adtech startup Tinkerley.
The Genext students raised 80 580,000 in 2018 in a pre-Series A funding round from anonymous investors.
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