Reliance Industries-backed edtech firm Embibe has secured a 90.5 percent stake in the equity share capital of Bengaluru-based e-learning products and service provider Funtoot. The deal was capped for the cash amount of INR 71.64 crore. Embibe has also proposed to invest another INR 10 crore in Funtoot to increase its stake to 100 percent. This deal would help Embibe accelerate development initiatives of its edtech platform.
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