Sequoia India may invest $50 mn in homegrown edtech startup

Sequoia India is reportedly planning to invest more than $50 million in K12 Techno Services, an edtech startup that provides a variety of services to educational institutions and also manages its own chain of schools.

According to a TechCrunch report on Tuesday, K12 Techno Services which has raised more than $75 million in previous rounds and also engaged with TPG and Accel decided to go with existing backer Sequoia India.

“The terms of the investment might change because the round has not yet concluded. It is unknown if any other investors, outside Sequoia, are participating in the round,” the report said, citing sources.

In more than a dozen Indian locations, K12 Techno Services manages the network of Orchids – The International Schools.