New Delhi: Edtech unicorn LEAD has completed the acquisition of London Stock Exchange-listed education group Pearson’s K-12 learning business in India, which has helped the startup expand its reach to 5 Mn students across the country.
The acquisition of the local K-12 learning business of Pearson India will help LEAD provide integrated edtech solutions to over 60,000 schools across India by 2026, the startup said in a statement.
LEAD announced its plan to acquire Pearson India’s K-12 learning business for an undisclosed amount in January this year. The startup then said that it would fund the deal through a combination of new fundraising and internal accruals.
Just a few weeks before that announcement, LEAD raised Rs 35 Cr from venture debt firm Alteria Capital. In January 2023, LEAD raised a total of about Rs 160 Cr via a mix of long-term capital from Alteria Capital and Stride Ventures, and working capital financing from banks such as Standard Chartered Bank, HDFC Bank, and ICICI Bank.
Founded in 2012 by Sumeet Mehta and Smita Deorah, LEAD helps schools combine technology, curriculum, and pedagogy in an integrated teaching and learning system. As per the startup, its integrated system is available to schools in 400+ towns and cities across India and now reaches over 5 Mn students and more than 50,000 teachers.
