Inventure Partners picks up minority stake in Russian educational firm Netology
Inventure Partners has taken a minority holding in Russian educational and interactive online courses Netology, according to Unquote. The value of the acquired stake was not disclosed in the said report, but the deal gave the firm a valuation of $5.6 million.
This is the first time that Netology has received outside funding. Before, the firm only depended on the investments of its founders, the report explained.
Netology will use the capital infusion to accelerate the development of its products. It plans to expand its portfolio to over 100 interactive online courses by the end of this year. As of now, it still has 30 courses on its platform. The firm will also use the funding to release a mobile version of the said platform, the report detailed.
Established in 2011, the Moscow-based firm provides interactive video courses using its online education platform. The company earns money through a monthly subscription to its educational content, Unquote reported.