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Menterra Social Impact Fund has invested an undisclosed amount in Vadodara-based Math Buddy, which develops interactive mathematics learning products for CBSE schools. It is now in over 200 schools in 19 States. Math Buddy will use the money to increase its presence to about 2,000 schools in the next three years. At present, according to Kannan Bharadwaj, co-founder, Math Buddy, the products are used in high-income schools. It wants to target low-income schools, for which it will set up a separate training and support arm to help these schools implement and use the product. This is the first outside investment in Math Buddy, which has been self-funded. Incorporated in 2010, Math Buddy has 1,500 activities, 800 interactive worksheets and assessments and an online Olympiad. The products have a combination of hands-on activities and interactive software and are meant to supplement the effort by teachers, not to replace them. Menterra Social Impact Fund I is an impact investment fund that invests ₹1–4 crore for a significant minority stake in early-stage social enterprises in education, health and agriculture.
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