IIT-Bombay incubated startup InOpen Technologies to raise $4 million in funding

NEW DELHI: Online content provider InOpen Technologies is planning to raise $4 million (around Rs 22.1 crore) to strengthen its position in the domestic education sector and explore opportunities in Middle East, Bangladesh and Sri Lanka.

"Yes, we are planning to raise $3-4 million. We are talking to some private equity funds as well as strategic investors. We are looking to do that in next four months," InOpen Technologies CEO Rupesh Shah said.

The IIT-Bombay incubated startup offers online learning programmes in computer science at the school level.

Its content-service solution ' Computer Masti', which is translated into eight Indian and two foreign languages, is used by over 125 schools.

To drive its growth in future, the company would be targeting government schools. "We will be aggressive on government projects as they constitute the major portion of our audience," Shah said.

The company is working on e-learning modules and different platforms in order to attain a larger audience.

"We are planning to go direct to 15 cities in India," Shah added.