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Matrix Partners India has made a Series-A investment of $7 million (Rs.30 crores) in pre-school educator Tree House Education and Accessories Pvt. Ltd. Mumbai-based Tree House claims to be the largest non-franchised, branded pre-school educator in the country and currently operates more than 45 pre-schools in Mumbai. With the current round of funding, Tree House plans to expand and open centers all over the country.
“The pre-school education market is upward of a billion dollar size in India. It is largely fragmented and there is huge scope to scale the company. Also, there is a great need for standardised quality education in the pre-school segment at an affordable price, with a clear focus on early childhood care,” said Rajesh Bhatia, MD, Tree House Education.
There are several other big players in this segment, however none of them has got PE funding yet. Delhi-based Mothers Pride, which is spread across Delhi and NCR, and ShemrockSchools with 90 branches are some of them. Then there is also Kidzee, which is backed by Zee’s Subhash Chandra, and Eurokids International which claims to have 180 pre-schools spread across 70 towns.
Matrix Partners India has around $450 million under management. It invests upto $50 million in companies, making venture and growth capital investments. Some of the portfolio companies of Matrix Partners India is Brand Marketing India , Itzcash Card, Seventymm and Yo! China. Avnish Bajaj, who previously founded Bazee.com, is the Managing Director of Matrix India.