NEW DELHI, Jan 23: Michael & Susan Dell Foundation backed India Educational Investment Fund (IEIF), has made investments in startups ChipperSage and Select Jobs, following which its investments have crossed Rs 13 crore across five companies in India.
ChipperSage offers English proficiency solutions aimed at transforming English comprehension and communication for school students, while Select Jobs is a placement company that uses its distribution network to provide employment opportunities to those who do not have stable internet access.
The Michael & Susan Dell Foundation has so far invested more than Rs 1,079 crore in non-profit and social enterprises in India since 2006.
“With these two investments, IEIF’s investments in India have crossed USD 2 million (around Rs 13 crore) across five companies,” Michael & Susan Dell Foundation said in a release.
In 2015, IEIF had made investments of an undisclosed amount in its first 2 educational start-ups, GuruG and Reportbee.
“The two new investments align perfectly with our focus on identifying and working with high impact, early stage companies in the education and skill training sector targeting less privileged children and youth,” said Vishal Bharat Director of Corporate Business Advisors, which is the investment manager for IEIF.
IEIF is a US-based limited liability corporation (LLC) focused on making early-stage equity investments in education start-ups that support urban, low income families in India.
It is an initiative of the Michael & Susan Dell Foundation and its current portfolio includes Oliveboard, GuruG, and Reportbee, apart from the two new investments mentioned above. (PTI)