Noida-based global study abroad platform, Leverage has secured investments from the family offices of Aloke and Suchitra Lohia. The Lohia family is the largest shareholder in Indorama Ventures PCL, one of Thailand’s largest publicly listed companies. The company wants to expand its services in the Southeast Asia market.
Recently, the start-up announced investments of Naira 800 million (Rs 8.4 crore) to expand its services in Nigeria. The announcement was made during the recently concluded G20 summit in New Delhi.
"We are thrilled to be partners on this journey with Leverage Edu, a pioneer in Student Mobility. The family believes in supporting ventures that create positive societal impacts. Leverage Edu's innovative approach resonates deeply with our values, and we are excited to contribute to their mission," said Suchitra Lohia, Executive Director of Indorama Ventures, who spearheads the Family Office operations based out of Bangkok.
More than 40,000 students went abroad from Thailand to study overseas last year, showing a 30 per cent CAGR in outbound international student numbers. Moreover, none of the universities in Thailand are globally ranked which makes a foreign education even more lucrative for its ambitious population. The company wants to leverage this opportunity by enabling the next 100,000 Thai students to study abroad will be fueled by this partnership, said the company in its statement.
Akshay Chaturvedi, founder and CEO of Leverage Edu, Fly.finance and Fly Homes said, "Problems like lack of sufficient English language training will be our priority to solve in Thailand as we enter one of Southeast Asia’s most promising markets. We are looking to set up an office in Bangkok, where the family has a deep understanding of the Thai ecosystem, and can support us."
Indorama Ventures PCL is listed in Thailand and is the world’s largest producer of PET and recycled PET. It also has market leadership positions in polyester fibers and oxide derivatives. Majority-owned by the Lohia family, the journey started with humble beginnings in Thailand in the late 1980s. Over the last 35 years, the company has grown to become a global sustainable chemical company with operations spanning 35 countries and more than 26,000 employees.