October 2010
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Techno Services has secured $15 million funding from Sequoia Capital

Hyderabad: Education management services provider K12 Techno Services has secured $15 million funding from Sequoia Capital and Song Investment Advisors, which is aimed at fuelling its next phase of growth.

K12 Techno currently manages over 60 schools run by different trusts under the Gautham Model School and Orchids, located in different parts of Andhra Pradesh and is now looking at expanding into other States offering similar services. The services span school management, curriculum, staff and logistics and transportation support, according to Mr M. Venkatanarayana, Chairman of K12 Techno.

Addressing a press conference, Mr Venkatanarayana, who was into teaching over the past three decades, said that the K12 project was initiated with the objective of providing quality education at affordable price. Typically, annual fee in such schools ranges anywhere between Rs 10,000 and Rs 20,000, helping in providing right foundation for children.

The company assists private entrepreneurs and educational institutions to run themselves in a more professional manner. Apart from curriculum development, infrastructure support, K12 services span teacher training and marketing solutions. By providing pure-play school management services, it has attracted our attention, Mr. K.P. Balaraj, Managing Director of Sequoia Capital, said.

Opportunity for growth

“We have thus far invested in three education related services companies including K12 and believe that there is immense opportunity for growth in education and healthcare services sector in the country,” Mr Balaraj said.

“Tasting success managing about 60 educational institutions in Andhra Pradesh, we are now in the process of expanding our reach and presence into other parts of the country, particularly South. We have initiated talks for presence in Maharashtra, Orissa, Karnataka and Chhattisgarh. By next year, we are looking at managing about 300 schools,” Mr Venkatanarayana said.




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