The Pearson Affordable Learning Fund (PALF) has invested in Delhi-based education startup Avanti Learning Centres. The financial terms of the transaction were not disclosed. Two unnamed angel investors also contributed to the funding. This was according to a report published by Education Investor.
Formed in March 2010, Avanti helps prepare students from low-income families for their college entrance tests. The startup focuses on competitive career fields such as medicine and engineering, said the report.
Avanti will use the investment from PALF to build a comprehensive learning and monitoring system. The company will also build new education centers, the report stated.
PALF was launched in July 2012 with a capital of $15 million. The fund aims to invest in private firms that provide affordable educational packages and schooling in Asia, Africa, and Latin America, Education Investor reported.
PALF Katelyn Donnelly said, "Avanti is particularly exciting because it is a non-traditional pedagogy with very strong initial results. Our investment allows us to partner with a mission-led company to bridge a crucial gap between secondary and higher education for low-income learners."
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