BHARTI AIRTEL add EdTech to its digital portfolio, acquires stake in Lattu Kids, for undisclosed amount

NEW DELHI / MUMBAI / RAJKOT - In a regulatory update as submitted to the Indian Stock Exchanges, New Delhi headquartered Telecom services providing Indian major company Bharti Airtel Ltd said of having added Education Technology (EdTech) to its digital portfolio having acquired stake in kids learning startup - Lattu Kids, for an undisclosed amount.

In a press-release titled, "Airtel adds Edtech to its digital portfolio with stake acquisition in kids learning startup - Lattu Kids", as enclosed and attached with the regulatory filing as submitted by the company to the Indian Bourses, it further read that, the acquisition enables Airtel to bring premium digital learning content over its network to make learning fun for millions of kids across India and that 

Lattu Kids becomes the fourth company to join Airtel Startup Accelerator Program 

The release further read that, Bharti Airtel (“Airtel”), India’s largest integrated telco, today said that it has acquired a strategic stake in Edtech startup Lattu Media Pvt Ltd (“Lattu Kids”) as part of the Airtel Startup Accelerator Program. Mumbai based Lattu Kids specializes in digital learning tools for children. 

Its highly popular Lattu Kids app focuses on improving English vocabulary, English reading and Maths skills for children under the age of 10 years through entertaining, fun learning animated videos and games. At over 500 mn, India has the second largest number of internet users in the world, driven by affordable smartphones and the lowest 4G data tariffs globally. 

This deep penetration of internet has also led to wide adoption of online learning tools. 

The COVID-19 pandemic and closure of schools has further accelerated the adoption of virtual classrooms and digitally enabled learning. 

It is estimated that in India Edtech will become a USD 2 bn plus industry by 2021. 

The investment will enable Airtel to add Edtech to its premium digital content portfolio and give distribution scale to quality learning material from Lattu Kids.

Airtel already has over 160 mn monthly active users across its digital platforms – Airtel Thanks app, Airtel Xstream app and Wynk Music. 

Lattu Kids becomes the fourth company to join the Airtel Startup Accelerator Program, which allows start-ups to leverage Airtel’s robust ecosystem, including its core strengths in data, distribution, networks and payments. 

This includes access to a vast online and offline distribution network that touches 300m+ customers, deep market understanding and platform of global strategic partners. 

Further, start-ups also get access to advisory services from Airtel’s executive team.

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