Kikora does a management buyout and secures NOK 10M from the Norwegian publishing house Aschehoug

Kikora, an Oslo, Norway-based education company developing digital learning tools for mathematics, secured a NOK 10M ($1.2M) investment.

The money comes as working capital from the local publishing house Aschehoug, and is part of a minority investment in a deal where Kikora's employees bought half of the company through Eldur Learning. The newly founded company will be led by Vineet Sharma.

Kikora, founded in 2005 by Anders Baumberger, Ellef Fange Gjelstad and Johan Kvarving Vik, is an e-learning company offering a digital tool for effective learning of mathematics. The solution is widely used in Norway by students between 5th grade and high school. In 2016 the company was profitable, with almost NOK 13M ($1.6M) in sales.