Classteacher Learning Systems Ltd. has received $15 million from a Fidelity fund for a minority stake in the Indian educational content provider.
The money from Fidelity Growth Partners India Ltd., a private-equity arm of the global fund management company, will be used to expand Classteacher Learning's product portfolio, the Indian company said in a press release.
Classteacher Learning didn't specify the stake it sold.
Two members of FIL Capital Advisors (India) Ltd., the private-equity advisory arm of Fidelity Growth, will join the board of Classteacher Learning.
Classteacher Learning provides more than 85,000 educational modules to 500 schools, the statement said.
Source: Fox News