- Home
- Business
- Russia-China Investment Fund, Winter Capital Invest $10Mln in Algorithmics School - RDIF
Russia-China Investment Fund, Winter Capital Invest $10Mln In Algorithmics School - RDIF
Muhammad Irfan Published February 19, 2021 | 02:36 PM
The Russia-China Technology Investment Fund (RCTIF) and Winter Capital Partners have invested $10 million in Algorithmics international school of mathematics and programming, the Russian Direct Investment Fund (RDIF) said on Friday
MOSCOW (UrduPoint News / Sputnik - 19th February, 2021) The Russia-China Technology Investment Fund (RCTIF) and Winter Capital Partners have invested $10 million in Algorithmics international school of mathematics and programming, the Russian Direct Investment Fund (RDIF) said on Friday.
The amount represents the first investment made by the RCTIF, established by the RDIF and the China Investment Corporation, to support projects in core sectors of the Russian and Chinese economies, according to a statement by the Investment Fund.
"Investment in Algorithmics is aimed at supporting one of Russia's most promising companies in programming and mathematics tuition. Algorithmics' strong growth in recent years has laid a solid foundation for its successful international development and its emergence as a global leader. Algorithmics' unique educational content, based on the Russian methodology of teaching programming and mathematics, is in growing demand all over the world, and we expect that our joint investment will allow the company to continue its international expansion while bringing a high-quality Russian product to key markets," RDIF CEO Kirill Dmitriev said as quoted in the press release.
According to the RDIF, the new funds will be used to develop the educational product as well as to continue its international expansion by attracting new franchise partners, opening new schools and increasing the number of its students worldwide.
Algorithmics teaches children programming and mathematics in offline and online formats, using a unique methodology and its own platform. Since its foundation four years ago, Algorithmics has opened schools in 37 countries and secured more than 200 franchisee partners in more than 250 cities. Over 150,000 students receive education in Algorithmics annually. Mail.ru Group previously invested in the development of the school.
Recent Stories
UAF to ink MoU with Ethiopian universities
Scouts playing exemplary role in serving humanity: Dr Iqrar
Punjab Police cricket honored with shields, medals & CCI certificates
Bugti issues directives to operate circular road parking plaza
PML-N to become more strong under Nawaz Sharif: Rana Sanaullah
300 raids conducted on hideous of drug-dealers
IP rights crucial in achieving SDG : Jam Kamal
Commissioner urges effective action against electricity theft
PAK-EPA's clean lab boosts environmental analysis capabilities with advanced ICP ..
Romania court opens way for start of influencer Tate's trial
Japan International Cooperation Agency (JICA) delegation visits WSSCA
13 outlets sealed for violating Hepatitis preventive SOPs
More Stories From Business
-
IP rights crucial in achieving SDG : Jam Kamal
5 minutes ago -
FBR’s data protection efforts commended by OECD assessment team
3 minutes ago -
US stocks rebound on tech earnings, London hits new record
48 minutes ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
48 minutes ago -
SBP to announce monetary policy on April 29
48 minutes ago -
50pc cut in subsidy of BRT service likely: CM’s aide
2 hours ago
-
PSX gains 771 points
3 hours ago -
Pakistan, US hold 7th TIFA meeting to strengthen trade and investment ties
3 hours ago -
Meeting held to streamline trade between Pak-Afghan , Central Asian Republics
3 hours ago -
Coca-Cola invests an additional $22 million in Pakistan
3 hours ago -
SECP Introduces SECP-XS: A swift complaint resolution platform
3 hours ago -
SBP to announce monetary policy on April 29
2 hours ago