LEAD, school Edtech company, has completed its acquisition of the local K-12 learning business of Pearson India.
The acquisition is a strategic investment for LEAD. With this acquisition, LEAD has widened its reach to improve learning outcomes in over 9000 schools across India.
Sumeet Mehta, Co-Founder and CEO, LEAD, said, “Different school segments in India have very different learning needs. With this acquisition, LEAD aims to serve as a single psingle-pointn provider for all the learning needs of both affordable private schools in India’s small towns, as well as private high-fee schools in its metros and large cities. We will build on the combined knowledge, experience and team strengths of both companies to create opportunities for growth and innovation, and to further deepen relationships with our school partners.”
In January 2023, LEAD raised ~Rs. 160 crores via a mix of long-term capital from Alteria Capital and Stride Ventures, India’s marquee venture debt investors; and working capital financing from prestigious banks such as Standard Chartered Bank, HDFC Bank and ICICI Bank.
With the path to profitability for LEAD’s base business of Affordable Private Schools already established through existing capital, the new round of fundraising will help finance LEAD’s organic and inorganic growth plans.