BWI: LIQVID Secures $ 3M in Funding from Subsidiary of SBI Holdings, Japan

Press release from Business Wire India
Source: LIQVID
Wednesday, August 01, 2012 02:55 PM IST (09:25 AM GMT)
Editors: General: Consumer interest, People; Business: Business services, Education & training, Information technology; Technology
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LIQVID Secures $ 3M in Funding from Subsidiary of SBI Holdings, Japan
LIQVID has raised $3M in funding from a subsidiary of SBI Holdings, Japan

Noida, Uttar Pradesh, India, Wednesday, August 01, 2012 -- (Business Wire India) -- LIQVID, an integrated eLearning content solutions company specializing in English Language Training (ELT), has raised funding from a subsidiary of SBI Holdings, Japan. SBI Holdings is one of the largest PE/VC firms in Japan, with more that USD 3 Billion under management. Following this investment, Brijesh Pande, board member at SBI Ven Capital, Singapore is joining the board of LIQVID.

LIQVID is focused on providing technology-aided English Learning & Training (ELT) solutions to individuals and organizations under the brand name of EnglishEdge. EnglishEdge leverages the power of technology to make learning scalable. The solutions are offered on PCs, Tablets and Mobiles. EnglishEdge has more than 250,000 learners across schools, colleges, vocational institutes and the corporate sector.

Joining the company board, Brijesh Pande said,"We are excited about our partnership with LIQVID. The company has a unique proposition of English language content plus delivery platform which we believe has wide applicability, not only in India, but in a number of non-native English speaking countries in Asia. We look forward to leveraging our global investment eco-system to further LIQVID's growth in India and abroad." Pande, a London Business School and University of Oxford alumnus, brings with him more than 15 years of global experience in private equity and banking.

Speaking of the investment, LIQVID CEO, Vivek Agarwal said, "We are very pleased to receive this investment. We are at a very exciting stage of the company's growth and this investment will help us consolidate our leadership position in the English Learning segment in India and also enable us to capitalize on new growth opportunities. SBI Ven Capital has an enormous global network and a strong record of nurturing companies and we are looking forward to working with them."

The investment is earmarked for rapid growth plans across segments. The company plans deeper penetration into the school market with its unique EnglishEdge Portable Language Lab. With interactive features like record-compare, video & internet-based activities and 10 times more speaking time, Portable Language Labs make learning more exciting, interesting and interactive. The company also plans to expand its offerings in the college segment with a comprehensive solution that caters to the growing demand for English Language Enhancement, Business Communication skills and Personality development.

In addition to being one of the largest Japanese private equity firms (with AUM in excess of USD 3 billion), the SBI Group is a leading global internet-based financial conglomerate. The SBI Group's core businesses include Asset Management, Brokerage and Investment Banking, Commercial Banking and Insurance. As of March 31, 2012, the SBI Group consists of 140 companies (including consolidated partnerships, equity method affiliates and 6 publicly listed companies). SBI currently has investments in more than 13 countries across Asia.

About LIQVID

LIQVID is a venture launched by key members of egurucool.com, which had established itself as India's foremost eLearning brands.LIQVID is known for its learning content development work in domains such as IT, Telecom, Publishing, and especially English Language Training (ELT) where it has a tie-up with BBC Active. It is the preferred offshore vendor for Hewlett Packard (HP), USA, Standard Chartered, Philips and Adobe; and it has executed several prestigious projects for organizations like Motorola, IBM, Hughes, American Express, BBC Learning and Oracle.

About EnglishEdge

EnglishEdge, LIQVID's flagship product, is a unique, indigenously developed English learning programme that brings together innovative English learning content and cutting-edge technology. It follows the unique 'Blended Learning' concept, which is a judicious mix of instructor-led and computer-based learning. EnglishEdge solutions are available to learners in schools, colleges and vocational institutions. Among customers who are using this programme are Pinegrove School, Kimberley International School, Shemford Schools, Delhi Public Schools, IIT Delhi, I.P. College for Women (D.U), Jamia Millia, Haryana Agricultural University, Allahabad University, Indian Military Academy, British Council and Educomp. HCL, Career Launcher, Jetking, Frankfinn, Future Learning, Centum, Cairn, Kuoni and IIJT are some other customers. EnglishEdge was nominated for the NASSCOM Innovation Awards' 2005 for making innovative use of Information Technology for teaching English.



CONTACT DETAILS
Chhavi Mahajan, Assistant Manager- Marketing, +91 9811693374, chhavi.mahajan@liqvid.com

KEYWORDS
CONSUMER, PEOPLE, BUSINESS SERVICES, EDUCATION, IT, TECHNOLOGY

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