Airtel Acquires 10 percent Stake In Edtech Startup

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        | Published: Wednesday, June 17, 2020, 18:19 [IST] Airtel has announced that it has bought a 10 percent stake in Edtech startup (Latto Media, a digital learning tool for kids) on Wednesday. The telecom operator has bought the stake under its Startup Accelerator Program. The app offers specializes in improving English…

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Airtel has announced that it has bought a 10 percent stake in Edtech startup (Latto Media, a digital learning tool for kids) on Wednesday. The telecom operator has bought the stake under its Startup Accelerator Program. The app offers specializes in improving English reading and maths skills. The app is specially designed for children under 10 year’s age.

“It is estimated that in India Edtech will become a $2 billion-plus industry by 2021. The investment will enable Airtel to add Edtech to its premium digital content portfolio and give distribution scale to quality learning material from Lattu Kids. Airtel already has over 160 million monthly active users across its digital platforms – Airtel Thanks app, Airtel Xstream app, and Wynk Music,” the telecom company said.

It is worth mentioning that India has become the second country when it comes to internet users. Currently, India has more than 500 million internet users. Affordable smartphones and cheap data prices have helped a lot in getting this position. In fact, the pandemic has played an important role in increasing internet demand as all schools are closed, and teachers are taking classes on video calls.

For the unaware, Airtel has acquired the fourth company after Voicezen, Spectacom Global, and Vahan. “The said valuation is not material and not disclosed herein due to reasons of confidentiality,” Airtel added.

Airtel To Deliver SIM At Home In Bengaluru

Meanwhile, Airtel has announced a new offer, where it is delivering SIM at home in Bengaluru to encourage people to stay at home. Under this initiative, Airtel will deliver SIM at your doorstep. Apart from that, the company will install broadband and DTH services.To recall, Airtel launched Rs. 251 add-on plan, where it is offering 50GB data. The add-on pack is available until the prepaid plan. In addition, the company revised Rs. 98 pack, which ships 12GB data, and earlier it used to offer 6GB data.

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Story first published: Wednesday, June 17, 2020, 18:19 [IST]

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