RELIANCE INDUSTRIES LIMITED COMPLETES TRANSACTION FOR THE STRATEGIC INVESTMENT IN EMBIBE TO FORM INDIA'S LARGEST
ARTIFICIAL INTELLIGENCE (AI) BASED EDUCATION PLATFORM
Pursuant to the definitive agreements executed by Reliance Industries Limited ('RIL') to acquire majority shareholding from existing investors of Indiavidual Learning Pvt Ltd ('Embibe'), a leading AI-based education platform leveraging data analytics to deliver personalized learning outcomes to each student, RIL, Embibe and the other stakeholders have completed all the closing conditions and have successfully completed the sale and purchase of the shareholding of the existing investors in Embibe to RIL.
With this transaction, RIL will hold 72.69% (on fully diluted basis) in Embibe. The founder and CEO of Embibe, Aditi Avasthi will continue in her leadership role and will drive the growth of the business.