India's Linkstreet raises Series A round from Faering

The investment was made via Faering's INR8.65 billion ($138 million) India Evolving Fund set up in 2010. Linkstreet will use the capital to develop its product and expand its business, with a view to quadrupling its client base and doubling revenue, over the next 12 months.

The company was set up by Arun Muthukumar, a former Cisco employee, and Vikram Ramakrishnan, previously of Booz & Co, in 2011. It offers an integrated cloud-based platform that allows institutions to run remote learning courses.

According to its website, the company's clients include companies and educational insitutions such as Capillary, the Indo-British Health Initiative, the Takshashila Insitution and Thompson Reuters.

"The impact of video learning is powerful, and therefore its potential as a service presents significant disruptive opportunities," said Aditya Parekh, co-founder of faering, in a statement. "Linkstreet has already built a robust and scalable product that client organizations have come to trust,"

Parekh and Sameer Shroff, another co-founder of Faering, have joined Linkstreet's board along with Ganesh Lakshminarayanan, managing director of data services firm Mu Sigma.

The India Evolving Fund has made five investments so far this year, and 12 in total. Recent investees include Ratnaker Bank, Gokaldas Intimatewear, Avantha Power, Biba Apparels, Manipal Health Enterprise, Snowman Logistics, and City Union Bank.

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