Education Content Company, S Chandand Company Limited has announced its plans to share all of its stakes in the Ed Tech platform iNeuron Intelligence Private Limited to Physicswallah for INR 14 Cr. iNeuron is an Artificial Intelligence and Data Science focussed education technology platform. Moreover, other investors like Mukesh Sharma Family Trust will also exit the venture soon.
This is second big share sell-out of S Chand from its large number of investments made in the education technology market. Last year, in December 2021, the company purchased shares of iNeuron and now sold them with a return of over 2x on the original investment. The company also exited from another major Ed-tech company Testbook gaining over 8x over the original investment.
S Chand along with its wholly owned subsidiaries Vikas Publishing and Chhaya Prakashani had acquired a minority stake in iNeuron Intelligence Private Limited in December 2021 in two tranches; it completed its second tranche of investment in September 2022. Both the companies have agreed to collaborate and worked together on university collaborations.
Mr. Saurabh Mittal, CFO of S Chand and Company Limited commented on the exit by saying, “This announcement is a definitive step in the portfolio diversification journey that we set out on. iNeuron and S Chand have agreed to work together to empower students and job seekers with education and experiential skills regardless of their economic and academic backgrounds and have built together a learning infrastructure that does not restrict itself to physical settings. 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.”
He also added that this deal enabled the company to monetize the EdTech investments at an attractive valuation and provided opportunities to explore future investments that align company’s growth strategies. He added that, “We are focused on developing our own solutions and channels of interactive learning for K-12, test prep & college and will be launching newer initiatives and content to spearhead and navigate India’s journey on back of the New Education Policy 2020.”
S Chand is one of India’s leading education content companies which aims to bring people and knowledge together. The company delivers content across the length and breadth of the country with established brands like S Chand, Madhubun, Vikas, Chhaya, Saraswati and Mylestone under its umbrella and a distribution reach of more than 3500 channel partners across India. With a footprint in more than 40,000 schools, colleges, universities, and institutes throughout India, it has consolidated the country’s fragmented education content market.
The company has its own digital business includes platforms such as S Chand Academy (YouTube), TestCoach App, Learnflix App and Mylestone Curriculum Solutions and is also an investor in Smartivity Labs private Limited which is an education STEAM toys company founded by IIT alumni Ashwini Kumar, Apoorv Gupta and Rajat Jain.
