Globals ITeS secures funding from two strategic investors

The investments will facilitate Globals to dilute about 38 per cent stakes to Commonwealth Education Trust and Encore Operating Partners.

Jul 14, 2011 10:07 IST India Infoline News Service

Globals ITeS Pvt. Ltd., which specializes in developing world-class quality technology solutions for the Education space along with Web, e-Commerce, and Mobile based solutions, has secured strategic investments from two strategic investors, Encore Operating Partners, Mauritius, and Commonwealth Education Trust, UK.
The investments will facilitate Globals to dilute about 38 per cent stakes to Commonwealth Education Trust and Encore Operating Partners. This is the first time that Globals is securing an investment from strategic investors. Globals was started by Suhas Gopinath at the age of 14 from an internet café in Bangalore. Today it has grown into a multinational ICT consulting company. Suhas also serves on the ICT Board of the World Bank Group and World Economic Forum Advisory Board.
“Globals has carved a name in the education domain globally. The funds will go towards developing cloud-based products in the Education Space such as ERP Systems for K-12 Educational Institutions, low-cost Tablet PCs and Online Teacher Training platforms. We are very happy that top investment firms have invested in Globals. This is a testimony of our achievements, and thus to take forward our vision to use technology as an enabler to make quality education accessible and affordable at bottom of the pyramid” informed Suhas Gopinath, Chairman & CEO, Globals in a press note issued in city today. 
The UK-based 1886 Investments Limited is the operating and investment arm of The Commonwealth Education Trust, founded in 1886 by Prince Edward, Prince of Wales, later to become Edward VII of England. “1886 is seeking to establish long-term commercial partnerships through investment in organisations that support the education sector, have the right leadership and have potential for growth; I believe that Globals is exactly such an organization,” notes John Picknett, Managing Director, 1886 Investments Ltd.
Encore Operating Partners, Mauritius, was founded by 3 industry veterans as a unique ecosystem for entrepreneurial growth companies.  “Suhas Gopinath and his team at Globals have created a unique organization built on Passion, Commitment & Belief in their mission. Their entrepreneurial energy and zeal has permitted this 20 something team to build a product and deliver it globally. The acknowledgements and accolades they have received from renowned bodies, heads of states and prominent institutions across the globe is proof of their abilities and performance. Encore is indeed proud to be associated with this team as not merely an investor but to bring the benefits of our extensive experience in building large organizations and the market reach we have across the globe. The Globals investment, we believe, encapsulates our investment philosophy in totality, which is to provide money, management bandwidth and market access to energize, enhance and enlarge entrepreneurial early growth companies,” said Hari Padmanabhan, Chairman, Encore Operating Partners, UAE.
Globals has developed various products such as™, which is a Software-as-a-Service based enterprise system for K-12 educational institutions to manage the student lifecycle, administration of the school, staff management, payroll, fees, timetabling and more. is deployed in more than 150 schools across India, Singapore and Mauritius.
“We have offered as a pay per student per month model, which enables educational institutions to streamline their administrative and academic process. Globals will use these funds to build cloud based products in the Education Space” notes Suhas.
Apart from, Globals is launching eBag – low cost tablet PCs for Students and teachers in India, Middle East and Africa - and also an Online Teacher Training Platform.

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