Gray Matters Capital invests in three education-focused startups
28 Dec 2018 5:03 AM GMT
US-based impact investment firm Gray Matters Capital has invested a total of $375,000 (about Rs 2.8 crore) in three companies
- US-based impact investment firm Gray Matters Capital has invested a total of $375,000 (about Rs 2.8 crore) in three companies under its edLABS initiative, a top company official told TechCircle.
- Gray Matters put money in Delhi-based education financing marketplace GyanDhan $125,000 (Rs 88 lakh), Hyderabad-based English language training organisation Ignis Careers $150,000 (Rs 1.12 crore) and Cuttack-based social enterprise providing ‘School-in-a-Box’ solution ThinkZone $104,000 (Rs 73 lakh), the official added.
- GyanDhan, which raised capital from Sundaram Finance in 2017, will use the money from edLABS to provide loans for domestic vocational courses through its lending partners.
- Besides $8 million for its edLABS initiative, Gray Matters Capital has allocated over $16 million to set up new funds—$10 million for direct investments and $2 million for an education-focused startup accelerator.
- Earlier this month, edLABS invested $150,000 (about Rs 1 crore at current exchange rates) in Hyderabad-based government jobs app MadGuy Labs.
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