Aakash to invest Rs 100 cr to rebuild Aakash Digital in two years
Aakash Educational Services plans to invest around Rs 100 crore in rebuilding and scaling up its edtech unit Aakash Digital after it has come out of the control of beleaguered edtech company BYJU'S, managing director and CEO Deepak Mehrotra said. In an interview to PTI, Mehrotra said that as part of Aakash 2.0 journey, the company will scale up Aakash Digital classrooms to cater to students across the country including in those areas where it is not feasible to set up physical rooms.
«We have brought the Aakash Digital Program back under Aakash, we are building on it and investing heavily. We believe that over the next 18 to 24 months, we will be spending close to Rs 100 crore on building this programme — investing in technology, content, teacher capabilities, and delivery. This investment will go into the Aakash Digital Classroom Program,» Mehrotra said.
BYJU's had acquired a majority stake in Aakash Educational Services (AESL) in April 2021 but due to financial trouble at the company, BYJU'S had to sell a significant stake in Aakash to Manipal Group chairman Ranjan Pai.
With the stake sale to Pai, AESL is no longer a subsidiary of Think and Learn, the owner of the BYJU's brand.
BYJU's at present holds around 26 per cent stake in AESL.
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