NIIT invests in

CIOL Bureau
New Update

BANGALORE: In its first venture funding in the country, NIIT has announced

that it is picking up stake in, an Internet-based communication

and learning solution for schools. The investment figures, however, were not


Advertisment has been founded by three young ex-IITians, Rohit Pande,

Sameer Buti and Apoorv Misra. Rohit Pande, CEO, is an alumnus of IIM Calcutta

and has three years of consulting experience with Andersen Consulting. A gold

medallist in finance and marketing from XLRI, Sameer Buti has worked with ICICI

and Citibank. Apoorv Misra has five years of experience in the IT sector

spanning Web and telephony technologies.

According to a release, has been developed based on the

concept of Internet driven virtual schools, which will provide futuristic

learning tools to students, teachers and parents. works in

partnership with schools to provide a personalized learning module tailor-made

for school children. The objective is to provide stimulating ways of learning

for the children and also a steady feedback on their individual learning graph

for parents and teachers, the release added.

NIIT will make available its expertise in technology and content creation to NIIT is the first big investor in the site and the funds

provided will go into content creation, infrastructure development and marketing

and advertising.

"We found a potentially valuable and viable business proposition for the

school community in In a clutter of education portals,

classteacher has a compelling customer acquisition and revenue model, which

would set it apart from competition. In fact, it is a second generation site

with real revenues," said NIIT senior vice president R Venkatesh Iyer.

"NIIT’s investment in will provide strategic value

for NIIT’s K-12 Brick & Mortar LEDA Family Clubs. We will gain valuable

experience in creating Web-enabled content for the K-12 segment. This tie-up

will help us take a big step in leveraging Internet as a delivery mechanism for

K-12 segment," Mr Iyer said.