Bharti Airtel had over 423 million customers across its operations at the end of March 2020.
The share price of Bharti Airtel gained 3.8 percent intraday on June 17 after the telecom operator acquired 10 percent strategic stake in Lattu Kids, an Edtech startup.
The stock has rallied 56 percent in the last seven months following tariff hikes, strong demand amid lockdown and good earnings growth. It was trading at Rs 562.45, up 3.24 percent on the BSE at 1505 hours.
The company acquired a strategic stake in Lattu Media Private Limited as part of the Airtel Startup Accelerator Program, it said in a BSE filing.
Mumbai-based Lattu Kids specialises in digital learning tools for children. "It is highly popular Lattu Kids app focuses on improving English vocabulary, English reading and maths skills for children under the age of 10 years through entertaining, fun learning animated videos and games," the company said.
The COVID-19 pandemic and closure of schools has further accelerated the adoption of virtual classrooms and digitally-enabled learning, it added.
Estimates indicated that India Edtech will become a $2-billion plus industry by 2021, Airtel said.
Lattu Kids becomes the fourth company to join Airtel accelerator program that which allows startups to leverage the company's ecosystem, including its core strengths in data, distribution, networks and payments.
"We believe that Lattu Kids can make a positive impact in the space of online education and are excited to have them in our accelerator and partner in their growth," Adarsh Nair, Chief Product Officer at Bharti Airtel, said.
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