Genext Students Raises Funding From Navneet Education
Genext Students, a Mumbai-based edtech company, has raised an undisclosed amount of funding from educational content provider Navneet Education Limited (NEL).
As per an official statement, Navneet Tech Ventures Private Limited (NTVPL), the wholly-owned subsidiary of NEL, has acquired a 51.8% stake in the edtech company. With the freshly raised funds, Genext plans to create exciting tech products for the teacher community, strengthen the tech ecosystem and expand its reach to the heartland of India.
Genext Students | LIVE Online Classes With Expert Tutors For K-12
Founded by Ali Asgar Kagzi, Asad Daud, and Piyush Dhnauka, Genext Students is a full-stack ed-tech solution offering LIVE online classes for K-12 students of national (CBSE, ICSE) and few state Boards across India.
The Mumbai-based edtech company empowers all the three stakeholders of the education lifecycle, i.e. tutors, students and parents. It offers end-to-end teaching solutions for TUTORS, Comprehensive learning solutions for STUDENTS, and Real-time progress tracking solutions for PARENTS.
Speaking on the development, Ali Asgar Kagzi said,
“Having already raised a couple of rounds of funding, we have been seeking strategic partners who would not only provide us with financial support but one who deeply understands the education space and could offer us a strategic support to drive the company to the newer heights.’’
Ketan Gala, President, Ed-Tech, Navneet Education, also said that this deal would provide content, knowledge and reach for Genext Students to grow aggressively.
“With a reach to more than 50,000 schools and institutes, 5 lakh tutors and more than 1 crore students, Navneet will provide content, knowledge and reach for Genext Students to grow aggressively,” stated Ketan.
Because of increasing active internet users, edtech companies in India are witnessing huge growth in online tutoring and competitive exam preparation. As per a report by RBSA Advisors, India’s edtech industry is poised to become $30 billion in size in the next 10 years.
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