SONG Advisors, a Mauritius based fund owned by the Soros Economic Development Fund, Omidyar Network and Google has announced that it will be investing about US$4 million (Rs 18.5 crore) in two ventures in affordable education and healthcare in India.
The investments will be made in K12 Techno Services ( http://k12technoservices.com ) which is an end to end School Management Company focused on affordable K-12 Education segment in South India. K12 Techno Services is promoted by Mr. Venkatanarayana a post graduate in chemistry from Benaras Hindu University with 25 years of experience in the affordable education space. K12 Techno services is currently managing 60+ schools on behalf of 15+ societies in Andhra Pradesh
K-12, a term used in educational technology as a short form for the publicly supported school grades prior to college. These grades are kindergarten (K) and the 1st through the 12th grade (1-12). The K12 education space in India is a US$ 20 Billion+ market and is growing at 14% annually.
The fund will also be investing in Eye Q Vision( http://www.eyeqindia.com/), an affordable eye care hospital chain based in Gurgaon, which currently operates eight eye care hospitals on a hub and spoke model across Haryana, Delhi, Uttaranchal and Uttar Pradesh. Eye Q Vision is planning to expand its network to another 20 towns within the next three years.