Telecom Giant Bharti Airtel acquires 10% stake in EdTech Startup Lattu Media

In a recent development, Bharti Airtel Ltd has acquired a 10% stake in Edtech startup Lattu Media Pvt. Ltd today. It is the latest out of four start-ups that Bharti Airtel has invested in. Other three startups that Bharti Airtel has invested under its startup support programme are:

1. AI tech startup Voicezen

2. Fitness-focused startup Spectacom Global Pvt. Ltd

3. Tech firm Vahan Inc.

Further, the programme focusses on supporting the growth of early-stage Indian startups.

About the Bharti Airtel-Lattu deal

Bharti Airtel invested in Lattu Media as a part of it's Airtel Startup Accelerator Program. The details of the transaction are still undisclosed. Airtel has 160 million monthly active users across its digital platforms. This is where it will also add the Edtech platform to its premium digital content portfolio. Due to this pandemic, most schools are closed. This will help people to adopt the ever-increasing mode of virtual classrooms and digital learning/homeschooling.

While the details are not available to the people, regulatory files gave away some details. As per the file, the acquisition of the equity shares of investee company is done at mutually agreed pre-money enterprise valuation. The said valuation is not material and not disclosed herein due to reasons of confidentiality, read the file.

"We believe that Lattu Kids can make a positive impact in the space of online education and are excited to have them in our accelerator and partner in their growth," Bharti Airtel Chief Product Officer Adarsh Nair said. He further added,

At Airtel, we aspire to support the growth of the startup ecosystem through our digital platforms. And now more than ever, online education is a critical need for millions of young children who do not have access to regular classrooms.

About Lattu Media

Lattu Media or Lattu Kids was founded by Vivek Bhutyani (CEO), Vivek Lath (COO) and Arvind Kumar (CTO). Further, these people specialise in digital learning tools for children. With the advent of Airtel's partnership, the company aims to reach a larger market.

The company said the deep penetration of the internet has led to wide adoption of online learning tools. It also added that the trend has further accelerated after the COVID-19 pandemic forced the closure of schools. This way, people had to adopt virtual classrooms and digitally-enabled learning.

Further, the app focuses on English vocabulary, English reading and maths skills for children under the age of 10.

Vivek Bhutyani, co-founder and CEO of Lattu Kids, said:

Lattu's vision is to impact learning outcomes for young children in Nursery to Grade 2 and lead this category in India by using digital content, gamification and technology. With Airtel, we have found an equally passionate partner and our synergies in this space will allow us to scale Lattu to millions of kids in India across classes and make it a much-loved homegrown Edtech brand.

The Edtech industry will cross USD 2 billion in size by 2021. (estimation)

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