Embibe, which is a Bangalore based education technology startup, has now secured funding of INR 89.91 crore from the existing investors and shareholder Reliance Industries.
At a premium of INR 1000 per share, a total of 899198 cumulative compulsory convertible preference shares were allotted to the shareholder, said the announcement.
Speaking on the Embibe deal earlier, Akash Ambani, Director of Reliance Jio, said,
“The investment in Embibe underlines Reliance’s commitment to growing the education sector in India and the world and making education accessible to the widest possible group of students by deploying the technology. Reliance aims to connect over 1.9 million schools and 58,000 universities across India with technology.”
The platform uses data analytics to deliver personalized learning outcomes for students. It uses the technology and analytics to capture the student weakness centered on critical exam performance like accuracy, speed, time management, stamina, attempt planning, and others.
