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Adda247 acquires PrepInsta to foray into job focused offerings

EntrackrEntrackr · 9m ago
Adda247 acquires PrepInsta to foray into job focused offerings
Medial

Google-backed edtech company Adda247 has acquired placement preparation platform PrepInsta as part of its expansion plans. In July this year, Adda247 acquired the chartered accountancy (CA) test preparation platform Ekagrata Eduserv for an undisclosed amount. This expansion marks a pivotal starting point for Adda247 in its journey to transition from a test prep platform to an integrated provider of job-focused education and skilling programs across public and private sector jobs. Co-founded in 2016 by Anil Nagar and Saurabh Bansal, Adda247’s offerings include live online classes, on-demand video courses, mock tests, and e-books. Additionally, the company has expanded into the skilling, up-skilling, and higher education sectors. The company claims to serve over 40 million monthly users and has 2 million students enrolled in its premium courses. PrepInsta (PI) is a platform for engineering students preparing for assessments and interviews, helping them secure job opportunities in roles such as data scientist, full stack developer, software engineer, and quality analyst. PrepInsta claims to have a strong pipeline of programs in areas such as gen AI, AI/ML, cloud, data, and the broader digital landscape to help job aspirants prepare for careers in GCCs, GSIs and digital companies. Prior to PrepInsta, Adda247 made three notable acquisitions – StudyIQ (a UPSC-focused ed-tech platform) in 2021, Veeksha (a 3D experiential learning company) in 2023 and Ekagrata (a CA Test-Prep platform) in 2024. The company also recently launched its inaugural ESOP buyback plan, benefiting over 130 employees.

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Adda247 acquires CA test prep platform Ekagrata

EntrackrEntrackr · 12m ago
Adda247 acquires CA test prep platform Ekagrata
Medial

Google-backed edtech company Adda247 has acquired chartered accountancy (CA) test preparation platform Ekagrata Eduserv for an undisclosed amount. Adda247 had previously acquired StudyIQ in January 2021 and Veeksha in July 2023. This acquisition is expected to significantly expand Adda247’s user base, which currently has 40 million monthly users (MAU). It will position Adda247 to capture a substantial share of the booming CA test preparation market, the company said in a press release. As a part of the acquisition, Anshul Agrawal, founder of Ekagrata , will be appointed as the director of CA vertical at Adda247 to lead the category. The strategic acquisition will also see Ekagrata’s employees becoming a part of Adda247. According to market research, the CA test preparation market is valued at Rs 800 crore (nearly $100 million). The acquisition comes soon after Adda247’s expansion into the skilling, up skilling, and higher education sectors. Co-founded in 2016 by Anil Nagar and Saurabh Bansal, Adda247’s offerings include live online classes, on-demand video courses, mock tests, and e-books. As per startup data intelligence platform TheKredible, Adda247 has raised over $55 million to date from investors like Westbridge, Google, Info Edge, and Asha Impact. The firm was valued at $175 million during its last fundraise in October 2022. Gurugram-based Adda247’s revenue from operations jumped nearly two fold to Rs 115 crore in FY23 from Rs 61 crore in FY22. During the period, the firm’s losses increased by 4X to Rs 110 crore.

Walko Food Company acquires Meemee’s Ice Creams

EntrackrEntrackr · 10d ago
Walko Food Company acquires Meemee’s Ice Creams
Medial

Walko Food Company acquires Meemee’s Ice Creams Premium dessert brand Walko Food Company has acquired Mumbai-based Meemee’s Ice Creams, marking its foray into the artisanal dessert market. With this, Walko plans to expand its portfolio and deepen its reach among urban and digitally-savvy consumers. Known for its offerings like Toasties, Roley’s, and Tubsters, Meemee’s has built a niche following among younger audiences. The acquisition will help the brand scale its D2C presence by leveraging Walko’s supply chain and presence across 100 cities. Walko operates brands like NIC Ice Creams, Grameen Kulfi, and Mimo Ice Creams, distributing through platforms like Swiggy, Zomato, Blinkit, and Amazon. The company, backed by JM Financial and Jungle Ventures, is looking to tap into India’s Rs 44,000 crore ice cream market, growing at ~11% CAGR. In February last year, Walko Food’s NIC had raised $20 million in a new funding round led by existing investor Jungle Ventures. NIC competes with new-age as well as established brands such as Cream and Fudge, Havmor, Baskin Robbins, Kwality Walls, Mother Dairy, Cream Bell, Amul, and Vadilal.

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