Indian digital education firm iProf raises $9 million
DMG Information, a division of the UK’s Daily Mail and General Trust, has led a $9 million Series B round of funding in Indian digital education firm iProf. Existing investors Norwest Venture Partners and IDG Ventures also participated.
Founded in 2009, iProf delivers education content for schools as well as higher education entrance exams.This is done through offline memory cards and online, where students can login into their accounts, access the content based on their grade and subjects, view online notes, download assignments and take tests.
The platform is used by tablet manufacturers such as Lava, Pantel and Simmtronics and telecom operators like Vodafone and MTS. The company recently won a bid to supply digital education solutions to 14,000 schools in India and over 150 abroad. The funding will help expand iProf's SchoolEra application.
Stephen Stout, CEO of DMG Information Asia Pacific will join the company's board of directors. In 2011 iProf raised $6 million in Series A funding from Norwest IDG and Kaplan Ventures.
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