Everest Edusys (QED), a science education venture raises INR 5.7 Cr round led by Lok Capital
Everest Edusys, a venture focused on experiential science education for children from all income levels, has raised Series A funding of Rs 5.7 crore led by Lok Capital with The Chennai Angels being the other investors. The funds will be utilized to set up state-of-the-art science labs in schools across Tamil Nadu, Karnataka and Kerala as well as bolster research and development of science educational tools. The funding will support the company’s endeavor to take science to the poorer sections of society by setting up engaging science exhibit centers that will act as a node for a cluster of Government schools in a neighbourhood. Currently, over 20, 000 children in over 100 schools, including 20 government schools, enjoy the benefits of active science education.
Founded in 2011 by Chokanath Hymavathy and Krishna Srinivasan, Everest Edusys works closely with teachers and schools to augment the way science education is imparted to children. The science labs, under the flagship brand, QED (Quest. Explore, Discover), moves away from chalk and talk sessions to include mobile exhibits, state-of-the-art labs and active learning methodologies.
Krishna mentioned, “We believe that we can make a significant change in the way science is taught and learnt in the country. We are seeing the initial results across our 300 schools, where children are already acquiring higher order thinking skills in line with global standards. This investment will fuel our reach into newer towns and cities, as well as enable us to provide access to science labs to all children, irrespective of their families’ income levels. This strategic partnership with Lok Capital and The Chennai Angels brings the mature expertise of a social venture fund and the rich local wisdom of successful entrepreneurs and investors at a very critical juncture in our growth”.
Venky Natarajan, Managing Partner, Lok Advisory Services said, “The pressure on the education system to cater to all children in the world’s second most populous country is not making it easy for schools and educators. This aspect primarily affects science, a subject that demands a different pedagogic approach than what is currently being followed in India.” He further added, “ QED is a commendable effort to bring a change with active learning tools and labs. Their focus on government and private schools to enable a comprehensive change in science education to all sections of society, as well as their rapid ramp up in just three years is what drew us to Everest”.
“There is a compelling need to support entrepreneurial ventures that help in bringing contemporary science and math education to Government and aided schools, to arouse curiosity and critical thinking among young school going boys and girls”, said Mr. Sameer Mehta from The Chennai Angels.
The Chennai Angels yesterday announced investing an undisclosed amount into Bangalore-based training platform Skyfi. Education and training is surfacing as their interest zone for 2014. Watch out this space for more news and follow up.
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