▸ Reliance Industries invests for the third time in the edtech startup Embibe.
The corporate sector amid the COVID-19 outbreak is witnessing debts, but the richest man of India, Mukesh Ambani, the managing director of Reliance Industries has already started executing plans for revival starting from investing in the edtech sector which is evidently grabbing attention and use-case amid the pandemic situation.
On Monday (April 6), Reliance Industries invested INR 500 crore in the Bengaluru-based edtech startup Embibe. Back in February, Reliance invested INR 90 crore in Embibe and INR 100 crore in 2018. The company sees a Embibe as an edtech behemoth of the future that has also acquired its rival platform OnlineTyari in February itself.
This is the third investment of Reliance in Embibe. Mukesh Ambani has witnessed a drop of 28 percent in his net worth amid the coronavirus outbreak as reported by Bloomberg recently. This is also true when talked in context to the India’s edtech giant Byju’s that has enrolled 6 million new students on its platform. Ambani’s continuous focus on the edtech sector is indeed a correct move to the revival.