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Venture Capital | 12 December 2013

Avanti Learning Secures Funding From Pearson Fund

by Tilak Devadiga
Avanti Learning Secures Funding From Pearson Fund
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Delhi based edu startup Avanti Learning Centers has secured an undisclosed amount of funding from Pearson Affordable Learning Fund (PALF), EducationInvestor states. The funding in which two additional angel investors also participated will be used to develop a comprehensive learning and monitoring system, and to build new centres.

Founded in March 2010 by Akshay Saxena and Krishna Ramkumar, Avanti Learning Centres helps prepare students from low-income backgrounds for college entrance exams. It focuses on competitive career paths such as engineering and medicine.

The company has its centers in seven cities - Mumbai, Delhi, Chennai, Kanpur, Dehradun, Rourkee, Puducherry.

Centers implement a unique peer learning pedagogy that was developed by Harvard Physics Professor, Dr. Eric Mazur, the firms chief academic advisor. It teaches students to learn from books, computers and their peers – resources that are abundant, accessible and consistent in quality. Students are enrolled after a highly selective two stage process.

The students are charged just $20 (£12) per month and the costs are kept low by a network of volunteers and partners, including universities and businesses that assist with teaching and admin.

PALF was launched in July last year with $15 million of Pearson capital to invest in private companies that provide affordable educational services and schooling in Africa, Asia and Latin America.

Recently PALF and US-based investor Village Capital had invested $150,000 in Experifun Learning Solutions, which designs science learning aids, and Sudiksha Knowledge Solutions, which operates low-income pre-schools.

In this space, Club ah! had launched its seed investment network ah! Seeders which made a seed investment of R37 lacs in Mumbai-based Edutech company –Ufaber; Delhi-based career planning platform iDreamCareer had raised an undisclosed amount of funding from an Indian investor based out of Middle East; Existing investor Info Edge had made an additional investment of R10 Cr in Applect Learning owned online education portal meritnation.com

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