Gaja Capital Invests in Educational Initiatives, Creators of ASSET and Mindspark

BENGALURU, August 2, 2018 /PRNewswire/ --

Mid-market focused private equity firm Gaja Capital has made an investment in Educational Initiatives, India's largest technology enabled K-12 assessments and adaptive learning company.

"Education is core to our investment strategy and we are long term believers in the K12 opportunity in India. Education is poised for its 'cure moment'. The answer to improved learning outcomes is more a Google Maps of education than an Amazon or Netflix approach. One size doesn't fit all. The right solution ascertains where you are, where you want to go and gives you the optimal path & tools to get there. Educational Initiatives (EI) is well placed to deliver on this promise," said Gopal Jain, Managing Partner, Gaja Capital

Started 18 years ago, by Sridhar Rajagopalan, Srini Raghavan, Venkat Krishnan and Sudhir Ghodke, EI offers schools products and solutions based on deep pedagogical research. Its flagship school assessment, ASSET, is taken by more than 380,000 students each year in India and overseas. EI has worked with more than 10,000 schools and 14 million students to improve their learning outcomes.

Srini Raghavan, EI's Chief Executive Officer, said, "Building on our core strengths of diagnostic assessments and adaptive learning, we at EI are working to define each child's learning path and aligning it with her education goals and career aspirations using state-of-the-art machine learning and artificial intelligence tools. The business acumen and expertise that Gaja Capital brings to our partnership will help us achieve our goals faster and with greater certainty. I would also like to mention Equirus, who acted as the sole financial advisor on this transaction."

EI's flagship learning product, Mindspark, is a computer based, adaptive learning solution widely used by teachers and parents to help students learn Mathematics and English. Mindspark has been reviewed by researchers at MIT, Stanford, Harvard and featured in the Economist for its ability to improve learning outcomes especially in Mathematics. For example, a recent study by MIT and J-PAL showed that students using Mindspark showed a 2x improvement in learning levels as compared to a control group. Further, since Mindspark is used both at school and at home and is aligned to the school curriculum, its usage, completion rates and learning outcomes are comparable to some of the best ed-tech solutions globally.

EI has also implemented large scale education projects in partnership with organisations like UNICEF, World Bank, USAID, DfID, MacArthur Foundation, Michael & Susan Dell Foundation, Hewlett Foundation, McKinsey, Harvard University & the University of Newcastle.

Sridhar Rajagopalan, EI's President & Chief Learning Officer said, "This partnership between India's pioneering Ed-tech company and India's premier education investor could not have come at a more opportune time as we stand on the threshold of heralding a new paradigm in learning. Gaja has an exemplary and proven track record and I am confident that this partnership will take us to new heights in the pursuit of our vision of 'Making Children Everywhere Learn With Understanding'."

Company is not in a position to share details regarding the transaction value, investment or the extent of the shareholding acquired through this transaction. All prior reported media numbers are speculative and off the mark.

About Educational Initiatives 

Educational Initiatives (EI) is an educational products company that leverages the twin levers of cutting-edge research and a technology-based solutions approach to revolutionize how children engaged in the K-12 education space learn. EI's vision is to create a world in which children everywhere learn with understanding by reaching a multitude of children across different strata of society, irrespective of the kind of education they are receiving today or the curriculum they are following. For more information on Educational Initiatives, please visit http://www.ei-india.com.

About Gaja Capital 

Gaja Capital is one of India's leading independent private equity firms providing growth capital to mid-market companies. Founded in 2004, Gaja Capital's team of sector and functional specialists combine investing, entrepreneurial and operating experience to deliver tangible value beyond capital. For more information on Gaja Capital, please visit http://www.gajacapital.com.