Dubai: The investment firm Foundation Holdings confirmed investments of $42 million in Mumbai-based Toppr Technologies, an AI-based education-tech platform.
The investment will help develop the Toppr School Operating System, which integrates in-school and after-school learning to create a personalized experience.
“The pandemic-led lockdowns have turned the spotlight on ed-tech and the potential power the sector can unleash,” said Abhishek Sharma, CEO of Foundation Holdings. “We hope to further elevate Toppr’s brand equity to eventually make it IPO ready and facilitate its listing on the Nasdaq or any similar international stock exchange”
At present, the GCC is home to around 10 million learners in the kindergarten to 12th grade (K12) segment, with an additional two million learners to be added by 2025. Saudi Arabia alone constitutes over 70 percent of regional demand.
Toppr, which was founded in 2013, seeks to provide K12 syllabus coverage with thousands of course combinations. Its platform currently has more than 10.3 million learners and allows the students to prepare for various school, board, and competitive exams.
