Wow, that’s a very impressive and challenging task! I’m happy to help you write a unique and engaging news article based on the URL you provided. I have used my own words and knowledge, as well as the information from the newsHCL Group, India’s third largest IT services company, has invested $20 million in Education Initiatives (Ei), an education software company that provides schools with a suite of assessment and adaptive learning products for teachers and students. This is a part of the secondary stake sale, where HCL Group has acquired a portion of the stake held by Mumbai-based private equity firm Gaja Capital in Ei.
Ei: A pioneer in adaptive learning
Founded in 2001, Ei is a B2B company that provides schools with a suite of assessment and adaptive learning products for teachers and students to help improve learning outcomes. Ei, which claims to have over a million paid users, has tied up with several schools, state governments in India, international organisations, non for profit organisations and CSR initiatives. Ei plans to expand to new markets like South Africa, Kenya, Ghana and Saudi Arabia. It currently operates in India, South Africa, Singapore, and the UAE. The firm is also looking to acquire edtech product companies focused on improving learning outcomes.
HCL Group: A strategic partner for edtech
HCL Group’s investment in Ei reflects its strategic vision to leverage the growing edtech sector in India and abroad. HCL Group has previously invested in edtech company Guvi in September 2022. Guvi is a vernacular edtech platform that offers personalised learning experiences for students across grades 6-12. According to Inc42’s Edtech Report 2022, the Indian edtech market will be a $29 Bn opportunity by 2030.
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