Education content firm S Chand and Company will sell its entire stake in the AI and Data Sciences focussed edtech platform iNeuron Intelligence Private Limited to unicorn Physicswallah for about Rs 14 crore, the company said on Thursday.
S Chand and Company had invested Rs 7 crore in iNeuron in December 2021.
"S Chand and Company Limited will sell its entire stake in the AI/Data Sciences focussed Ed Tech platform iNeuron Intelligence Private Limited to Physicswallah for a consideration of around Rs 14 crores. In addition, our co-investors, Mukesh Sharma Family Trust would also be exiting their investment in iNeuron Intelligence Private Limited," S Chand said in a statement.
The company said that it is exiting iNeuron with two times return on original investment.
The company has its own digital business including 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.
(To receive our E-paper on WhatsApp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)
