Bodhi Tree Systems, a joint-owned investment platform based in India, has acquired a 36% stake in Allen Career Institute in a $600 million deal.
- The funding would be used to expand the startup's services in transforming education through quality test preparation in India.
- Founded in 1988, Allen Career is an edtech platform preparing students for entrance examinations in engineering, medical sciences, and other disciplines, with 138 classrooms centres in 46 cities in the country.
- The platform has started expanding to other areas such as e-commerce since its fundraising deal was announced.
- Bodhi Tree, founded by Lupa Systems and Uday Shankar aims to explore investment opportunities in healthcare, education, consumer technology, media, and entertainment, with $1.5 billion received from Qatar Investment Authority.