Book Publisher S.Chand to sell its entire stake in iNeuron for Rs. 14 Cr to Edtech Unicorn Physicswallah
- ByStartupStory | December 22, 2022
S. Chand, one of India’s largest and oldest publishing and education service company, has said that it will sell its entire stake in AI/data sciences edtech platform iNeuron Intelligence to Physicswallah, edtech unicorn, for Rs 14 crore.
As per reports, Mukesh Sharma Family Trust, in addition to S Chand, is exiting their investment in iNeuron Intelligence Private Limited.
“We are happy to now hand over the reins to one of India’s most loved education platforms and are confident that both iNeuron and PhysicsWallah with their expert faculty and focus on blended solutions will have great synergy and the potential to spearhead India’s digital learning journey,” said Saurabh Mittal, chief financial officer of S Chand and Company Limited.
“This transaction additionally enables us to monetize our edtech investments at an attractive valuation and provides opportunities to explore future investments that align with our growth strategies. We are focused on developing our own solutions and channels of interactive learning for K-12, test prep and college and will be launching newer initiatives and content to spearhead and navigate India’s journey on the back of the New Education Policy 2020,” he said.
Physicswallah is an online test-prep platform started by Alakh Pandey in 2016. Since June, the unicorn startup PhysicsWallah (any startup that reaches a valuation of $1 Billion or more) has since acquired at least 4 companies.
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