India’s largest integrated telco, Bharti Airtel today announced about acquiring a strategic stake in an EdTech start-up as part of its Airtel start-up Accelerator Program. Lattu Media Pvt Ltd also known as Lattu Kids turns out to be that start-up wherein Airtel has invested.
Lattu Kids is a Mumbai based company which
specializes in digital learning tools for children. Lattu kids app which is
highly popular concentrates on improving English vocabulary, Maths skills and
English reading for children below the age of 10 years through fun learning as
well as entertaining animated video and games.
With lowest 4g data tariffs and affordable smartphones, India reportedly has over 500 Mn, second largest number of internet users around the globe.
The intense consumption of internet has given rise to wide adoption of online learning tools. The closure of schools due to covid19 pandemic has enhanced the adoption of virtual classrooms and accelerated digitally enabled learning. An estimation suggests that EdTech is likely to become a USD 2 bn plus industry in India by 2021.
Airtel through this investment will be enabled to add EdTechin its portfolio of premium digital content and provide distribution scale to quality learning material from Lattu Kids. Already over 160 Mn users are active across the digital platforms of Airtel such as Airtel Xstream, Airtel Thanks app and Wynk Music.
Airtel start-up Accelerator Program lets start-ups leverage Airtel robust ecosystem along with its core strength in data networks, distribution, and payments. Lattu Kids turns out to be the fourth company to join this program. Apart from this it includes access to a huge online as well as offline distribution network which touches 300m+ customers, in-depth understanding of the market and platform of global strategic partners. Start-ups further receive access to advisory services from executive team of Airtel.
Last trading shares of Bharti Airtel Ltd in BSE was Rs 544.8 in comparison to the previous close of Rs.550.85. 596160 in over 15863 was the total number of share trading during the day.
The stock happened to hit an intraday high of INR 559.3 and intraday low of 537. During the day, the net turnover was INR 326541641.