IDiscoveri raises $10 million

Mumbai: iDiscoveri Education, an education company that partners with schools to improve learning methods and trains teachers, has raised $10 million from private equity firm Lighthouse’s India 2020 Fund in return for a minority stake.

The funds will be used for expansion, said Ashish Rajpal, founder of iDiscoveri. “We have established a good proof of concept and now we will look to bring in new technology and take it across rest of India,” he said.

Its flagship program XSEED, a comprehensive solution for quality teaching and learning in K-12 schools, reaches over 400 schools and 140,000 students nationwide. Lighthouse’s India 2020 Fund focuses on growth equity investments in India’s middle market sector.

(As published in Livemint on Wed, 01 Sep 2010)