S Chand and Company Limited, one of India’s largest Education content Companies , will sell its entire stake in the AI/Data Sciences focussed Ed Tech platform iNeuron Intelligence Private Limited to Physicswallah for a consideration of about Rs 14 crores. In addition, our co-investors, Mukesh Sharma Family Trust would also be exiting their investment in iNeuron Intelligence Private Limited
With a return of over 2x on the original investment of approx. Rs 7 crores in December 2021, this is the second recent exit for S Chand and Company Limited from its various Edtech Investments on back of the recently concluded exit in Testbook with an about 8x return on investment in July, 2022.
S Chand along with its wholly owned subsidiaries Vikas Publishing and Chhaya Prakashani had acquired a minority stake in iNeuron Intelligence 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.
Commenting on the exit, Saurabh Mittal, CFO of S Chand, said, “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.”
Mittal further adds, “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. ”
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
LoEstro Advisors LLP is the exclusive financial advisors to iNeuron and the exiting shareholders.
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