Sequoia Capital and Song Advisors have announced a $15 million investment in K12 Techno Services Pvt. Ltd, which manages over 60 schools run by 15 different trusts under the Gowtham Model School. KP Balaraj, Managing Director, Sequoia Capital and Ravishankar GV, Principal, Sequoia Capital and Vishal Vasishth of SONG have joined the board of K12.
VCCircle reported in July that Sequoia and Song are investing in K12 Techno, which also runs Orchids – the International school brand.
K12 Techno's services include curriculum development, infrastructure development, pre-school management, teacher training and marketing solutions with a special focus on development of communication skills.
With over 60 schools in Andhra Pradesh, K12 claims to be one of the largest pure-play school management companies in India. It plans to expand this business model to other states in country in the next 2 years.
"We see K12 as a pioneer with a capital efficient model addressing a large market opportunity. We are indeed pleased to partner with K12 - a potential market leader in affordable education,” said KP Balaraj, Managing Director, Sequoia Capital India.