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Sequoia India eyes $50 million investment in K12 despite market slump

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Sequoia India is in advanced stages of deliberations to invest over $50 million in K12 Techno Services. K12 Techno Services, a start-up that offers a variety of services to educational institutions and also operates its own chain of schools, doubles over the first company it backed in over a decade. Two sources familiar with the matter previously told TechCrunch.

K12 Techno Services, which has raised more than $75 million in previous rounds, has also been involved with TPG and Accel in recent weeks, according to Tracxn, but has decided to pursue a partnership with existing backer Sequoia India. , said one of the sources.

Since the round has not closed, the terms of the investment could change, the sources warned and asked to remain anonymous sharing non-public information. Unknown.

K12 Techno Services operates the international school chain Orchids in over 20 cities in India. It operates over 90 schools, teaching subjects ranging from robotics to a philosophy for personal ‘360 degree development’. To date, he has served more than 75,000 students, according to the Orchids website.

It also provides integrated curricula, online class platforms, and other school management applications to over 300 schools through its Let’s Educate division. “Our comprehensive solution is scalable and adaptable to work effectively in all types of schools. effective,” explains the website.

Another division of K12, Sparkle Box, operates an e-commerce store of custom-made activity kits for kids.

K12 did not respond to a request for comment on Thursday, while Sequoia India declined to comment.

The deal represents Sequoia’s proactive and multi-pronged approach to tackling the Indian Edtech market, where over 300 million students attend school and participate in highly competitive college admissions. He is one of the early supporters of Byju’s, Unacademy and Doubtnut, serving students from kindergarten through college preparation. It is also her investment in Eruditus, which provides higher education to students in dozens of markets.

Indian Edtech start-ups are among the most affected by the ongoing market downturn that has overturned many of the gains made during the 13-year bull market.The edtech industry in the South Asian market is About 5,000 jobs this year.

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