Private Equity

Other Private Equity/Strategic Investments

Kota-based test prep co Allen to raise $600-M from Bodhi Tree Systems

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Bodhi Tree Systems, a newly formed platform between Lupa Systems and Uday Shankar, will invest USD 600 million in Kota, Rajasthan-based test preparation brand Allen Career Institute,. Lupa is likely to pick a 30-35% stake in the company at a valuation close to USD 1.2 Billion. Allen will use the funding to leverage digital technology to improve learning outcomes for students in test-prep and K-12 segments in India and abroad. Founded by Rajesh Maheshwari in 1988, Allen provides offline, digital and distance courses for IIT JEE, AIPMT, NEET-UG, KVPY, and the Olympiads. It claims a pan-India footprint as well as presence in the Middle East through 138 classroom centres in 46 cities. Qatar Investment Authority (QIA) is an investor in Bodhi Tree Systems whereas Lupa Systems has invested in Indian edtech companies such as Doubtnut and Harappa Education. The investment firm also backed DailyHunt's parent VerSe Innovation.