Kedaara Capital Backs Edtech Startup K12 Techno Services, Peak XV Gets Partial Exit
Kedara Capital invested an undisclosed amount in the Bengaluru-based startup, providing a partial exit for Peak XV Partners.
K12 Techno provides curriculum education in schools that use technology.
Backed by Navneet Education and Sofina Ventures, K12 Techno claims to serve over 900 educational institutions and schools with over 300,000 students.
Edtech startup K12 Techno Services has raised an undisclosed amount from Kedara Capital.
With this investment, Peak XV Partners (formerly Sequoia Capital India) will partially exit the company, the startup said in a statement.
Founded in 2010 by Venkata Narayan, K12 Techno is a Bengaluru-based edtech startup that provides curriculum-based learning in schools. This startup provides audio-visual content covering K-12 curriculum. It operates in Hyderabad, Chennai, Mumbai, Bangalore, Gurugram, Kolkata and Pune.
K12 Techno claims to serve over 900 institutions and schools with over 300,000 students.
The startup claims to have grown its revenue at a compounded rate of 40% over the past five years. Apart from Peak XV, it is backed by companies like Navneet Education Limited and Sofina Ventures. It competes with schools like LEAD School and Educomp
Commenting on this investment, Kedara Capital founder and managing partner Sunesh Sharma and managing director Ananth Gupta said, “ K12 Techno has done a great job in helping schools bridge this gap by leveraging technology and focusing on operations. We are delighted to partner with Jai Kosto (CEO of K12 Techno) and the K12 Techno team to help them accelerate their growth and achieve their mission of providing comprehensive, world-class educational services across India at affordable prices.
This development comes at a time when the education technology sector has been one of the sectors most affected by the ongoing funding freeze. As a result, many edtech startups have laid off staff to cut costs, and many have even closed their doors.
According to layoff tracker Inc42 , 22 edtech startups, including unicorns BYJU'S, Unacademy and upGrad, have laid off more than 9,800 workers since 2022. Most recently, Peak XV-backed Cuemath laid off 100 workers last month to cut costs.
Despite the economic downturn, founders and investors are looking to capitalize on the growing edtech market. According to Inc42 analysis , the Indian education technology market is expected to grow to $29 billion at a CAGR of 24% during the forecast period 2025-2030. With 7 unicorns in the sector, total funding raised by the industry since 2014 has reached $11 billion.
