Posted by : Kapil Thursday, February 6, 2014
The capital raised by MSDF will be used for developing products, building analytics framework, and will also be used to cater to the operational losses till the company hits break even, said Pradeep Sharma, chief executive officer of GMI.
The company which includes a couple of students from ISB in its top management, operated as a non-profit organisation earlier and decided to change its model to a for-profit company only a year ago. It aims to reach break-even by 2015-16.
The company aspires to reach more than 5,000 schools, 2 million students and 100,000 teachers in the next five years. At present it caters to about 650 schools. GMI plans to to increase the role of assessments and analytics in K12 education and help improve educational quality by making data actionable to schools.
|Gray Matters India
The foundation recently invested in LabourNet Services India Pvt Ltd along with social VC fund Acumen.