K Ganesh & Meena Ganesh acquire e-learning venture avagmah; close to …

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Article from VC Circle:

avagmah, an online education services company acquired recently by serial entrepreneurs K Ganesh and wife Meena, is close to raising Rs 100 crore (over $ 16 million) for expansion to Sri Lanka, Malaysia, Indonesia and the Middle East.

According to a company spokesperson, avagmah is already in talks with a few Indian and global investors, and expects to close the round within three-four months.

�Online education is a red hot opportunity. The potential is illustrated by companies like 2U (filed for a $ 100 million IPO in February 2014) and EmbanetCompass (sold to Pearson for $ 650 million). The model has been proven in the US, but has not been attempted in this region. I am confident that the US� success in online higher education can be replicated in Asia as well,� said K Ganesh, who had previously built online education venture TutorVista, which was acquired in 2013 by UK-based Pearson Inc for Rs 980 crore.

avagmah was founded by Karthik K S (CEO), who had previously co-founded 24×7 Learning, an e-learning consulting, technology and imple………..

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