Latest updated information: It has been confirmed that Airtel has acquired 10% stake in Lattu kids
India’s telecom giant Airtel has acquired strategic stake in Edtech startup Lattu Kids. The financial details of the deal has not been disclosed and therefore it is not known how much stake has Bharati Airtel acquired in the company. Likewise, the value of this stake deal is still not known. To know about the financial details, Techpluto has sent queries to Lattu Kids. We’ll update this story as and when we get the reply.
This is Airtel’s second investment in Indian startup within the span of one month. Last month, it acquired 10% stake in conversational AI startup Voicezen under its Startup Accelerator Program. This latest acquisition deal has also been done under its Startup Accelerator Program.
Airtel said that the investment in Lattu Kids will help in adding Edtech to its premium digital content portfolio and give distribution scale to quality learning material. The company boosts over 160 mn monthly active users across its various digital platforms (Airtel Thanks App, Airtel Xstream app etc), according to statement issued by the company.
“At Airtel, we aspire to support the growth of the start-up ecosystem through our digital platforms. And now more than ever, online education is a critical need for millions of young children who do not have access to regular classrooms,” said Adarsh Nair, Chief Product Officer, Bharti Airtel. We believe that Lattu Kids can make a positive impact in the space of online education and are excited to have them in our accelerator and partner in their growth.”
Headquartered in the financial city of Mumbai, Lattu Kids is an early year edu tech firm. The startup has developed many tools and solutions that seek to improve the learning outcomes for children from age 3 to age 8. The company believes that 90% of the human brain develops before age 5 and therefore kid’s potential for success is laid well before they step in Kindergarten.
Commenting on the latest investment deal, Vivek Bhutyani, Co-founder and CEO, Lattu Kids said “With Airtel, we have found an equally passionate partner and our synergies in this space will allow us to scale Lattu to millions of kids in India across classes and make it a much-loved home grown EdTech brand.”