TutorVista founders K Ganesh & Meena Ganesh acquire e-learning venture …

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Article from VC Circle:

Husband-wife duo cum serial entrepreneurs and K Ganesh and Meena Ganesh have returned to the digital education business by acquiring avagmah, an online education services venture, for an undisclosed amount. The company is now close to raising Rs 100 crore (just under $ 17 million) for expansion to Sri Lanka, Malaysia, Indonesia and the Middle East.

“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.

According to a company spokesperson, avagmah is already in talks with a few Indian as well as global investors, and expects to close the fundraising in within three-fou………..

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