HCL, one of India's finest tech companies, gave $20 million to a company called Educational Initiatives (Ei) that makes software for schools. The money helps Ei grow more. HCL also got a small part of Ei's company from another company called Gaja Capital.
Ei wants to go to new places like South Africa, Kenya, Ghana, and Saudi Arabia. Right now, they work in India, South Africa, Singapore, and the UAE. They want to buy other companies that make education software to make learning better.
Ei started in 2001. They make tools for schools to test students and help them learn better. They work with many schools, governments, and groups that want to help education.
Ei's boss, Pranav Kothari, said their money went up by 56% last year. They made 97 crores in 2023, up from 62 crores in 2022. They also made a bit more profit, going from 4.2 crores to 5.5 crores.
HCL also gave funding to another education company called Guvi in September 2022. They gave $1.9 million.
HCL endorsing ed-tech start-ups seems promising for a business vertical that has seen the demise of one biggest ed-tech giants like BYJUs.
