Founding Years Learning Solutions, Bangalore based company which runs preparatory schools and day care centers as Klay schools, has raised $16 Million in Series B round of funding. The round was led by Peepul Capital with participation from Kaizen Private Equity. With the latest funding, Value and budget housing, the early stage investor in the company, made its way out.
Speaking on the development, Priya Krishnan, CEO – Founding Years Learning Solutions stated that the aim after the fund raise is to expand aggressively. She added that the new cities where the company is planning to expand are Pune and Chennai along with strengthening its presence in cities like Delhi, Bangalore, Mumbai and Hyderabad.
The company is looking at a longer term prospective and it plans to acquire some businesses in Singapore and Dubai to mark its presence in the respective countries.
Founding years has launched another initiative, The Little Company. It has worked with companies like Genpact, Unilever and Johnson & Johnson to manage their on-site day care centers.
Speaking on the development, Surya Mantha, Investment Director at the Peepul Capital commented that Klay Schools have won the trust of parents and it has the ability to disrupt the market of day care centers in the urban part of India.