Villgro, an impact investment firm, has announced INR 20 Cr. fund to invest in education startups working primarily in areas pertaining to improving learning outcomes for school-going children and skills training for urban youth.
Villgro in partner with US-based Michael and Susan Dell Foundation (MSDF) has decided to incubate 12 startups at its initial phase.
MSDF has given part of the INR 20 crore as donor grants to Villgro and will be investing the rest of the money in the social impact fund.
PR Ganapathy, COO of Villgro said, “In the education field, lots of exciting changes are happening, but innovative ideas targeted at the bottom of the pyramid segment has not taken place on a big scale.”
MSDF focuses on the education for poor in India. Ganpathy added, “MSDF approached us to work together to encourage startups in this area. Our model of incubation works very well in the agri and energy sectors. We wanted to extend this model to the education sector, wherein we can incubate and mentor social education startups to innovate without worrying about raising funds.
In December 2014 Unitus Seed Fund, India’s leading venture seed fund, announced seed round investment in Cue Learn Pvt. Ltd. and Curiositi. Both being education startups from Delhi and bangalore respectively.