Education content firm S Chand and Company Limited is selling its entire stake in iNeuron Intelligence to edtech unicorn Physicswallah for Rs 14 crore. Its co-investors Mukesh Sharma Family Trust would also be exiting the company, according to a press statement by S Chand.
S Chand will make 2X return in a year as the company invested Rs 7 crore in iNeuron in December 2021 and exiting it with Rs 14 crore. This is the second exit of the publishing major from the fledgling edtech space. It also exited Testbook with an 8X return in July, 2022.
S Chand delivers content through established brands like S Chand, Madhubun, Vikas, Chhaya, Saraswati and Mylestone. It provides content and services across three segments – Early Learning, K-12 and Higher Education. Over the past few years, it also expanded its product portfolio through digital learning acquisitions.
S Chand along with its subsidiaries Vikas Publishing and Chhaya Prakashani had acquired a minority stake in iNeuron Intelligence.
The company has its own digital business including platforms such as S Chand Academy (YouTube), TestCoach App, Learnflix App and Mylestone Curriculum Solutions and is also an investor in Smartivity Labs which is an education STEAM toys company.