Jaipur-based Rajasthan Ventures Capital Fund (RVCF) has acquired 30 per cent stake in its first round of funding in Shree Eduserve Pvt Ltd, an early-stage vocational training education company, for an undisclosed amount.
Established in 2006, Shree Eduserve develops new-generation products for education and vocational training in Jaipur. With this funding, the company will widen its scope by deploying existing e-learning product features and expand its reach to other states like Maharashtra, Gujarat, Haryana and Madhya Pradesh.
“India’s education sector is estimated to be worth $60 billion. Out of this, vocational training accounts for $1.50 billion. The vocational training market in the country is estimated to witness a growth rate of about 20 per cent per annum in the next few years. What’s more, English language and related training happen to be the major chunk of this market and English is currently the flagship brand of Shree Eduserve. There is special emphasis by the government on the education sector, especially vocational training programmes for rural youths. Shree Eduserve, with its current infrastructure, is well-placed to cater to the growing demand, especially the English language training,” said Girish Gupta, CEO of Rajasthan Ventures.
According to Karunn Kandoi, CMD, Shree Eduserve, the company’s association with RVCF will bring significant change in growth and expansion plans, as it aims to open more quality learning centres all over India. “The first round of funding will be used to build the brand image and expand the existing operations across the country,” said Kandoi.
Recently, Rajasthan Ventures acquired 32 per cent stake in its first round of funding in Mumbai-based NexTenders (India) Pvt Ltd for an undisclosed sum. RVCF invested in that company through its Rs 150 crore SME Tech Fund.
RVCF SME Tech invests in IT, education, retail, healthcare, agro products, auto components and other growth sectors.