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Airtel acquires strategic stake in edtech startup Lattu Media
New Delhi, June 18, 2020
Telecom major Bharti Airtel announced here on Wednesday that it had acquired a strategic stake in edtech startup Lattu Media Pvt Ltd 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, a press release from Airtel said.
According to it, at over 500 million, 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 $ 2 billion-plus industry by 2021.
The release said the investment would 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 million monthly active users across its digital platforms – Airtel Thanks app, Airtel Xstream app and Wynk Music.
Adarsh Nair, Chief Product Officer, Bharti Airtel said: “At Airtel, we aspire to support the growth of the start-up 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. 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.”
Vivek Bhutyani, co-founder and CEO, Lattu Kids said: “Our vision with Lattu Kids 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 home grown EdTech brand.”
Lattu Kids becomes the fourth company to join the Airtel Startup Accelerator Program, which allows start-ups to leverage Airtel’s 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, the release added.