Klay Schools has raised $16 million in funding in Series B round while content sharing platform Pinterest has acquired Fleksy, a company well known for its gesture based keyboard app.

Peepul Capital Leads $16M Round in Klay Schools

Bangalore-based Klay Schools has raised $16 million in funding in Series B round led by private equity firm Peepul Capital. Existing investor Kaizen Private Equity also participated in the round.

Run by Founding Years Learning Solutions, Klay School will use the money for its expansion plans. In 2013, Kaizen had invested $6 million in Klay Schools which provided an exit to its existing investor Value and Budget Housing.

"We will be increasing the number of centres to 200, entering new cities Pune and Chennai. We are also looking at entering Dubai and will be entering Singapore or Hong Kong market through an acquisition," said Priya Krishnan, CEO of Founding Years, who holds a minority stake in the company.

The premium school chain has a presence in the Delhi-National Capital Region, Mumbai, Bengaluru and Hyderabad.

The company works with companies such as Unilever, Johnson & Johnson and Genpact to run their on-site day-care centres as well as near-site day-care centres under the brand name, The Little Company.

Content Sharing Platform Pinterest Buys Fleksy to Improve its Visual Search Platform

Content sharing platform Pinterest has acquired Fleksy, a company well known for its gesture based keyboard app. The deal amount is still undisclosed by both the companies.

Fleksy announced the acquisition deal in a blogpost and said, ”Fleksy will remain available in the app stores for the foreseeable future, so no need to worry about being forced to re-learn to type on a alternative keyboard…As a tribute to our incredible community of users we have made the decision to open-source some of the Fleksy components that the blind and visually impaired community grew to love.”

Fleksy app was launched four years back on iOS for blind users, at a time where 3rd party platform keyboards were not supported on iOS.

The Fleksy’s team further added, “Over the years it has been our great pleasure to bring you the fastest and most reliable typing experience. Building a keyboard, especially a good keyboard, is not an easy task. In fact, it’s really hard. Without all of your support and feedback it wouldn’t have been possible. From the bottom of our hearts we thank you.”

Image Source: ShutterStock

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