Reliance to invest ₹1,173 crore in edtech startup Embibe

Mukesh Ambani-led Reliance Industries will invest over ₹1,173 crore over three years in exchange for 72.69% stake in Mumbai-based edtech startup Embibe, as per filings. The stakes will be acquired from existing investors including venture capital firms Kalaari Capital and Lightbox Ventures. Founded in 2012, Embibe helps students develop their educational standards through personalised feedback.