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ChipperSage, Select Jobs raise funding from India Educational Investment Fund

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India Educational Investment Fund (IEIF), an early-stage impact fund established by the Michael & Susan Dell Foundation (MSDF), has invested undisclosed amounts in ed-tech firm ChipperSage and job portal Select Jobs.

ChipperSage Education Pvt Ltd, founded in 2009 by ex-HCL techie Latha Srinivasan, offers English proficiency solutions that aim to improve school students' comprehension and communication.

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Select Jobs, run by Select Jobs Pvt Ltd, is a job placement company for candidates at the bottom of the socio-economic pyramid, such as delivery boys, electricians, plumbers, etc.

With these two investments, IEIF's investments in India have crossed $2 million (nearly Rs 13 crore) across five companies. In 2015, IEIF invested an undisclosed amount in two Indian education technology startups: Report Bee Edusys Pvt Ltd, a cloud-based deep learning platform, and Guru-G Learning Labs (India) Pvt. Ltd, a gamified platform for teachers.

"The two new investments align perfectly with our focus on identifying and working with high-impact, early-stage companies in the education and skill-training sector...Tapping synergies within the portfolio multiplies the chances of success manifold," said Vishal Bharat, director at Corporate Business Advisors, the investment manager for IEIF, in a statement on Monday.

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Since 2014, MSDF has made investments in Unitus Seed Fund and Menterra Social Impact Fund and, since 2006, the foundation claims to have invested over Rs 1,079 crore in non-profits and social enterprises in India.

Last year, MSDF had earmarked an additional $50 million (about Rs 333 crore) for investments in India.

Some of MSDF's education sector-related investments in India include Bengaluru-based Oliveboard Comptech Pvt Ltd, which operates online test preparation platform Oliveboard, and Delhi-based test prep startup Avanti Learning Centres. Last year, MSDF had led a Rs 33.1-crore (around $5 million) funding round in Avanti Learning.

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