Reliance India has invested in an AI-based ed-tech platform. The company has announced that it will be purchasing 72.69 percent of the shares of the Bengaluru based ed-tech startup, Embibe. The funds will be infused over a period of three years.
Embibe uses data analytics and AI in order to craft a tailor-made learning experience for the students. Embibe will make use of the capital for expansion to other geographical areas, business growth and will also enrich its R&D on AI in education. The ed tech company will also address K12, higher education, professional skilling, vernacular languages, and other categories. Embibe will also be catering to the international audience.
“The investment in Embibe underlines Reliance’s commitment to growing the education sector in India and the world, and making education accessible to the widest possible group of students by deploying technology”- Akash Ambani, Director, Reliance Jio.
The investment is part of Reliance’s bid to connect to 1.9 million schools and 58,000 universities in India. The company (Embibe) has performed well and has delivered a net profit of 29.90 crores ($4.6 million) for the previous fiscal year. Meanwhile, the investment in Embibe can be reckoned as RIL’s second-biggest transaction this year, the first being the Saavn deal. With the advent of ed tech teachers will have to blend into a role of a facilitator and a guide. The ed tech companies like Embibe are expected to help in the upheaval of the quality of education and also bring about a change in learning patterns.
Platforms like Cuemath are already offering interactive learning platform in India. The course is designed such that the students develop a strong foundation in maths in their formative years. Gamification, an art of using storytelling to help develop a fondness and strong basic for various subjects is also gaining popularity. All in all, the education scene in India and the other emerging countries is changing rapidly with technology at the center stage.