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RIL acquires 73 per cent stake in AI firm Embibe

June 13, 2018

Reliance Industries Limited (RIL) has completed acquisition of close to 73 per cent stake in artificial intelligence (AI) based education technology provider Embibe. RIL plans to invest $180 million into the company over the next three years. Earlier in April 2018, RIL had entered into agreements with Individual Learning Private Limited to acquire close to 73 per cent stake in Embibe.

Embibe will use this capital towards deepening its research and development (R&D) on AI in education sector, as well as on business growth and geographic expansion.

The funds will also be used to  catering to students’ needs across higher education, professional skilling, vernacular languages and all curriculum categories across India and internationally.

 
 

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