AEON Learning raises $3.2 million from MEMG Family Office
AEON Learning will use the funding from MEMG Family Office for growing its business from its university partnerships and skill programmes
New Delhi: Education technology start-up Aeon Learning on Monday said it has raised $3.2 million from Ranjan Pai, chief executive officer (CEO) and chairman of Manipal Education and Medical Group.
The investment is from MEMG Family Office Llp, the investment vehicle of Manipal Group promoters, Bengaluru-based Aeon Learning said.
Pai is the grandson of Manipal University founder T.M.A. Pai and son of its current chancellor Ramdas Pai. In 2000, the group formed Manipal Education and Medical Group, a holding company for Manipal University, other educational institutes, a network of hospitals, and other businesses.
Ranjan Pai is also a founding partner along with T.V. Mohandas Pai of Aarin Capital, a venture capital firm that has invested in Bjyu’s, India’s top e-learning platform, among start-ups in other domains.
“Skills gap is a huge roadblock for continuing economic growth not just in India, but around the world. Aeon Learning has the right product portfolio and a highly competent leadership team, which is making a difference in the evolving online education industry. The global online education market opportunity is huge, and we are glad to partner and support Aeon Learning as they gear up to leverage this opportunity,” Ranjan Pai said in a statement.
The series B investment will help Aeon Learning, which launched in 2013, expand marketing and outreach.