Source: Emerging Market Securities via PwC – EdLive
Private equity investor Indian Angel Network has acquired a minority stake in an Indian virtual classroom solution provider Aurus Network Infotech, the Mint newspaper reported. Financial terms of the deal were not disclosed. With this investment, Aurus will develop a better R&D centre and ramp up its sales and marketing team. It will also expand its presence in global market, starting with Africa. Aurus Network was founded by Piyush Agarwal in 2010.
The company is specialist in providing distance and online education across the country. The platform can also be used as an automated solution for large scale, university wide lecture capture and publishing, with in-built features like web based lecture video editing, social networking, online testing, performance tracking, search and analytics. Indian Angel Network was founded in 2006. The venture, in addition to money also provides constant access to high quality mentoring, vast networks and inputs on strategy as well as execution. It invests in a wide range of industries including agriculture, food processing, banking and financial services biotech, pharma, and life sciences clean tech and water education healthcare, etc.