Everest Edusys, a venture focused on experiential science education for children from all income levels, today announced that it has raised Series A funding of Rs 5.7 crore led by Lok Capital, one of Indiaâ€™s largest impact investment funds with over $85 mn under management. Chennai Angels is also a participating investor in this round.
The funds will be utilized to set up state-of-the-art science labs in schools across Tamil Nadu, Karnataka and Kerala as well as bolster research and development of science educational tools. The funding will support Everest Edusysâ€™ endeavor to take science to the poorer sections of society by setting up engaging science exhibit centers that will act as a node for a cluster of Government schools in a neighbourhood. Currently, over 20, 000 children in over 100 schools, including 20 government schools, enjoy the benefits of active science education.
Founded in 2011 by Chokanath Hymavathy and Krishna Srinivasan, who are passionate about science education, Everest Edusys works closely with teachers and schools to augment the way science education is imparted to children. The science labs, under the flagship brand, QED (Quest. Explore, Discover), moves away from chalk and talk sessions to include mobile exhibits, state-of-the-art labs and active learning methodologies. Globally, research has proved that active learning methodologies have a lasting impact on the learning outcome of the students. Indian students exhibit the poorest learning outcomes for science and mathematics, signaling a need for intervention to address this.
Talking about their investment in QED, Venky Natarajan, Managing Partner, Lok Advisory Services said, â€śThe pressure on the education system to cater to all children in the worldâ€™s second most populous country is not making it easy for schools and educators. This aspect primarily affects science, a subject that demands a different pedagogic approach than what is currently being followed in India. QED is a commendable effort to bring a change with active learning tools and labs. Their focus on government and private schools to enable a comprehensive change in science education to all sections of society, as well as their rapid ramp up in just three years is what drew us to Everestâ€ť.
Speaking on raising the Series A funding, Krishna Srinivasan, Founder, Everest Edusys said, â€śWe believe that we can make a significant change in the way science is taught and learnt in the country. We are seeing the initial results across our 300 schools, where children are already acquiring higher order thinking skills in line with global standards. The investment will fuel our reach into newer towns and cities, as well as enable us to provide access to science labs to all children, irrespective of their familiesâ€™ income levels. This strategic partnership with Lok Capital and The Chennai Angels brings the mature expertise of a social venture fund and the rich local wisdom of successful entrepreneurs and investors at a very critical juncture in our growthâ€ť.
"There is a compelling need to support entrepreneurial ventures that help in bringing contemporary science and math education to Government and aided schools, to arouse curiosity and critical thinking among young school going boys and girls. The Chennai Angels is excited about scaling the Q.E.D model pan India rapidly", said Mr. Sameer Mehta, who championed the cause of Everest Edusys among the investing angels.
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