Existing investor Kaizen Private Equity, which had invested $6 million in the chain in 2013, also participated in the round, which saw the exit of early-stage investor Value and Budget Housing.
“We will be increasing the number of centres to 200, entering new cities Pune and Chennai. We are also looking at entering Dubai and will be entering Singapore or Hong Kong market through an acquisition,” said Priya Krishnan, CEO of Founding Years, who holds a minority stake in the company. The premium school chain has a presence in the Delhi-National Capital Region, Mumbai, BENGALURU and Hyderabad.
The company works with companies such as Unilever, Johnson & Johnson and Genpact to run their on-site day-care centres as well as near-site day-care centres under the brand name, The Little Company.
“Klay Schools is well poised to ride the fast-growing demand for day-care services in urban India. It has won the confidence of parents and corporates alike which is reflected in its position as a premium day-care player,” said Surya Mantha, Investment Director at Peepul Capital.
Source: The Economic Times