iProf Learning secures Rs.22 crore funds
April 21st, 2011 - 11:31 pm ICT by IANSNew Delhi, April 21 (IANS) E-learning company iProf Learning Solutions India Thursday said it has secured a funding of Rs.22 crore from two venture capital funds for expanding its operations.
“The capital will be used to fuel aggressive expansion of iProf’s e-learning centre in metros and tier 2-3 cities throughout India and abroad,” said the company in a statement.
According to the statement, the funding is provided by Norwest Venture Partners (NVP) and IDG Ventures India (IDGVI), whose top executives would join the company’s board.
“We are extremely passionate about the sector we serve, and with this funding, we will be able to accelerate the execution of our vision of taking e-learning methods to the depths of India and abroad at an affordable price,” said Sanjay Purohit, founder and chief executive, iProf.
Purohit said that India’s test preparation market is expected to reach $1 billion in three years, and to meet the needs of this growing market his company has created an innovative e-learning marketplace.
The company said that it has tied up with the Indira Gandhi National Open University (IGNOU) to conduct 75 diploma programmes on the iProf platform.
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