India’s second largest telco, Bharti Airtel, has invested in a 10 per cent stake in Mumbai based educational startup Lattu Media.
The investment in the distance learning and online education startup will be made as part of Airtel’s Startup Accelerator programme, according to a report in The Economic Times of India.
Lattu Media specialises in delivering e-learning initiatives, providing English comprehension and Maths based lessons in an app based context.
"The investment will enable Airtel to add Edtech to its premium digital content portfolio and give distribution scale to quality learning material from Lattu Kids," a statement said.
Neither company has disclosed the value of the investment but the ET report claimed that the acquisition of the equity shares was made at a mutually agreed pre-money enterprise valuation.
Hundreds of millions of people in India are being forced to work and study from home as the country grapples with the current Covid 19 pandemic. With schools set to remain closed for the foreseeable future, distance learning initiatives will play a key role in facilitating study from home efforts.