Chennai: Chennai-based education services company Karadi Path Education Co. Pvt. Ltd on Wednesday said it has raised $2.3 million from Pearson Affordable Learning Fund and existing investor Aavishkaar India II Co. Ltd.
Karadi Path provides high-impact, low-cost programmes to deliver English language proficiency to children and adults. The company will use the funds for product development and organization building. It is investing in updating its product portfolio to better serve both older students (high school, college and adult skill development) and younger students (preschool).
The company did not disclose the stake it diluted.
Unitus Capital and Economic Laws Practice, Mumbai, advised the company on the transaction.
The company claims its services are in use in over 1,000 schools, reaching over 200,000 students. While the current focus is English language learning, the pedagogy is being applied to develop programmes for other languages as well.