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RIL to acquire 72.69 pc stake in Indiavidual Learning (Embibe)

4/13/2018

Agencies, Mumbai Reliance Industries today executed definitive agreements to acquire majority shareholding constituting 72.69 percent (on fully diluted basis) from existing investors of Indiavidual Learning Pvt Ltd (Embibe),a leading AI-based education platform leveraging data analytics to deliver personalized learning outcomes to each student. The company has agreed to invest upto rupee equivalent of USD180 million investment over the next three years into the company, RIL said in a filing with BSE.. Started in 2012, Embibe has built an AI-based education platform that uses data analytics to deliver personalized learning outcomes to each student. The company has more than 60 educational institutions on its platform. Embibe will use the capital over the next three years towards deepening its R&D related to AI in the field of education, beefing up business growth and expanding geographical presence, catering to students across K-12, higher education,professional skilling, vernacular languages and all curriculum categories across India and internationally. The founder and CEO of Embibe, Aditi Avasthi, will continue in her leadership role and drive the growth of the business. “The investment in Embibe underlines Reliance’s commitment to growing the education sector in India and the world and making education accessible to the widest possible group of students by deploying technology. Reliance aims to connect over 1.9 million schools and 58,000 universities across India with technology,” Akash Ambani, Director, Reliance Jio, said.

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