K12 Techno Services Secures USD 40 Mn in Funding from Kenro Capital The Bengaluru-based firm aims to expand aggressively, with plans to open 8–12 Orchids schools annually and onboard 100–150 schools under the Eduvate umbrella each year.
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K12 Techno Services, a leading player in India's K-12 education sector, has secured USD 40 million in funding from Kenro Capital, a growth-stage secondary venture capital firm recently established by Piyush Gupta, former Managing Director at Peak XV Partners.
This marks Kenro Capital's debut investment, with the firm acquiring a minority stake in K12 through a combination of primary and secondary funding.
The investment includes acquiring a partial stake from a major existing shareholder, purchasing employee stock ownership plans (ESOPs), and a modest primary capital infusion to fuel K12's ambitious growth plans.
K12 Techno Services operates under its flagship brand Orchids The International School and offers a suite of services such as content, marketing, software, curriculum design, and school security.
The Bengaluru-based platform claims to have built a strong footprint with over 90 Orchids school branches across India and six verticals, including Sparklebox, an e-commerce platform for activity kits, and Eduvate, which delivers custom solutions for school operations and curriculum design.
The firm aims to expand aggressively, with plans to open 8–12 Orchids schools annually and onboard 100–150 schools under the Eduvate umbrella each year. Currently, K12 serves over 900 institutions and caters to more than 350,000 students, emphasising holistic development through academic rigour and extracurricular activities.
Piyush Gupta, Founder and Managing Partner of Kenro Capital, stated,
"K12 Techno's scale enables unparalleled advantages in student engagement, teacher recruitment, infrastructure, and cutting-edge IT and curriculum development, setting it apart from standalone institutions. This aligns with our strategy of backing growth-stage companies with significant revenue scale and profitability."
In FY24, K12 Techno demonstrated robust financial performance, with revenue from operations rising to INR 429.2 crore, up from INR 358.3 crore in the previous fiscal year. The company reduced its losses by 75% year-on-year to INR 9.5 crore and reported a positive EBITDA of INR 80.4 crore.
Jai Decosta, CEO of K12 Techno Services, added, "Kenro Capital's expertise in preparing companies for public markets and strategic acquisitions makes them ideal partners at this critical growth stage. Their agility in executing this investment reflects their alignment with our vision."
Backed by prominent investors, including Peak XV Partners, Kedaara Capital, Sofina Ventures, Venturi Partners, and Navneet Learning LLP, K12 continues to expand amid rising demand for its services in the post-pandemic era.
Norbert Fernandes, Partner at Kenro Capital, emphasised the alignment of K12's mission with market needs: "Parents are increasingly prioritising holistic education, making K12 a leader in India's education sector."
Earlier this year, Venturi Partners acquired a USD 27 million stake in K12, further cementing the company's reputation as a high-growth player in the Indian education landscape.
