Venture capital firms to invest Rs 22 cr in iProf

NEW DELHI: Venture capital firms Norwest Venture Partners and IDG Ventures India today announced an investment of Rs 22 crore in iProf Learning Solutions India, a company offering e-learning solutions, to help expand its centers and facilitate the market entry of its products.

"The capital will be used to fuel aggressive expansion of iProf's e-learning centers (iProf iStudy Zones) in metros and tier 2/3 cities throughout India and abroad, and bring a large number of new iProf products to market," a release today said.

iProf offers the country's first personal education tablet and delivers study material in multiple formats such as audio-video lectures, animations, structured tests, etc.

At present nearly 20 iStudy Zones are operational and will reach 100 by the end of 2011.