Educational Software - Monday, January 7, 2008
India's StudyPlaces Raises $3M
We read recently that Japan's venerable education institutions were looking enviously at their Indian counterparts. There does in fact appear to be a mania for higher education in India. We learn today that StudyPlaces has raised $3M in first-round funding, says to VC Circle. Backers include Kleiner Perkins Caufield & Byers, Sherpalo Ventures and Info Edge Ltd.
Based in the US and in India, StudyPlaces was founded by Amitabh Nagpal who was one of the co-founders of telecom firm Cymbal, which was sold in 2004 to Patni Computers for $68M. StudyPlaces has received angel investment from Nikesh Arora, President of Google Europe, and Sanjiv Ahuja, chairman of Orange.
We had assumed that StudyPlaces would sell online courses or tutoring, but in fact its more of a resource and community for people doing research on their education. StudyPlaces is taking a page from a number of sites in the US that make a living selling leads to universities.
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