Description
KidEx provides a holistic developmental key to unlock a child’s maximum potential in the extra-curricular space in an organized way which is missing in the Indian education system. It is a category leader in this space with over 70,000 users.
It is an experiential platform for children aged 6 to 14 to learn real-life skills via online classrooms, competitions/certifications, and peer-to-peer learning solutions. The global market for experiential learning for children aged 6 to 14 years is valued at USD 6 billion, with India accounting for USD 1 billion in 2021. The Indian market is estimated to be worth USD 4 billion by 2030, while the global market is expected to be around USD 12 billion.
The founders are IIT Kharagpur alumni who came together to build this platform. Prior to Kidex, they have had global experience across rivigo, BCG, Blackrock and Doubtnut among others.
Details of the round –
The pre-money valuation for the current round is INR 73.3 cr.
In the current round, the company is looking to raise INR 9 Cr. They have received commitments worth INR 3 Cr from individual investors.
The company has approached Lead Angels to raise the amount. The investment in KidEx will be routed through the Lead Angels Fund which is our SEBI registered AIF Category 1 Angel Fund, rather than as individual investments from our members as the founder of KidEx is not comfortable with having a crowded cap-table which may also impact future institutional interest.
Due to this there are some points which may be different from our network deals.
Specifics of the KidEx transaction:
Pre – Money Valuation – INR 73 Crores
1) Processing fees equal to 2% Plus GST of the investment amount is payable to the Lead Angels Fund investment platform.
2) Much like a mutual fund, the members will be issued units of the Kidex scheme in the Lead Angels Fund which will correspond to their investment in Kidex.
3) A Carry will be charged – 17.5% of profits upon exit from the investment. This amount will be payable to the Deal syndicate Harsh Rajgaria and his assigns including Lead Angels affiliated entities.
4) The Net capital gains on exit will be subjected to TDS at prevailing rates (currently standing at 10%).
As per SEBI regulations, a member of the fund has to make a commitment of INR 25 lakhs to be invested through the Fund over a five year period and also meet certain net worth criteria.
Already some Lead Angels members have confirmed their commitment of INR 65 lakhs towards investment in KidEx through the Lead Angels Fund AIF platform.
The minimum commitment to the company is INR 5 Lakhs. In case commitments exceed the ask amount, allotment will be on the “First Come, First Serve” basis.
