Navneet Publications India Ltd is pumping in Rs 45 crore in K-12 Techno Services Pvt Ltd, a Hyderabad based school management company servicing around 67 state board schools in A.P. run by different trusts.
The latest infusion of funds is expected to help the K-12 Techno Services in expanding its reach to more states.
The schools, with over 50,000 students in the affordable education segment, were run under the Gowtham Model Schools and Orchids brands, in addition to state board schools. It also manages 8 junior colleges and an international school.
K-12 had earlier raised capital from Sequoia Capital last year for expansion and consolidation. With the latest funding, K-12 has planned to expand its services across five different states and plans to manage over 200 schools in the next 3-4 years.
Navneet Publications, which has a dominant presence in content and stationery segment, has its publishing business predominantly in Gujarat and Maharashtra, hopes the latest investment would enable it to launch its products and services in AP and help it diversify from its existing line of business and enter directly the growing education segment.