Kota, India-based test preparation firm Allen Career Institute received USD 600 million investment from Bodhi Tree System. The round took place on May 1, 2022. Uday Shankar and James Murdoch-led Bodhi Tree Systems agreed to acquire a significant minority stake in Allen.
Purpose of Investment in Allen
The strategic partnership and subsequent investment will help Allen to expand its offerings. Allen further seeks to fuel physical and digital expansion across various Indian cities. Currently, the company has a presence in 46 cities in India and the Gulf region. Besides, Allen is likely to expand its base more in the growing edtech space.
Meanwhile, Bodhi Tree Systems will leverage its founders’ shared track record of building iconic consumer businesses to build Allen into a world-class digital education business of the future.
Allen Career Institute is arguably India’s largest coaching institute that prepares students for entrance exams in multiple streams.
What the founders of Allen have to say-
“Our partnership with Bodhi Tree is an essential ingredient in furthering our mission to increase Allen’s reach and impact significantly. We are quite pleased and excited that the Bodhi Tree team also sees value in combining their expertise with our experience in education,” said Rajesh Maheshwari, co-founder director of Allen.
In addition, Keshav Maheshwari said, “Our partnership with Bodhi Tree will not only help us scale our Indian operations through technology but also fuel our growth journey in the middle-east (Asia).”
“Our decision to enter into this strategic partnership with Bodhi Tree is founded on shared values, principles and an aligned vision of creating societal impact at scale through education globally,” said director Govind Maheshwari.
What the investor has to say
“We believe that education is on the cusp of a technology-led renaissance that will fundamentally alter how education is imparted and increase its efficacy. Allen’s unrivalled success and scale provide the right foundation to build the digital education company of the future. We are excited to work with the Maheshwari family to build an outcomes-focused digital education company that delivers on the aspirations of millions of learners and parents in India as well as beyond,” said James Murdoch and Uday Shankar in a statement.
They further added, “Education is a critical consumer need, driven by its deeply transformative impact on lives and livelihoods of consumers.”
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