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Edtech soonicorn Brightchamps gives India business a makeover; acquires 90% of learners via schools

Money Control

Money Control · 1y ago

Edtech soonicorn Brightchamps gives India business a makeover; acquires 90% of learners via schools

Edtech startup Brightchamps, valued at $650 million, has shifted its business model in India to focus on a B2B approach. Previously, the company offered one-on-one online classes to students but found that the cost of acquisition was too high in the Indian market. Now, Brightchamps reaches students through schools, offering certificate courses on coding, financial literacy, entrepreneurship, and robotics. The company acquired Metamorphosis Edu, a platform offering entrepreneurship courses, to facilitate this shift. Since implementing the new B2B model, Brightchamps has acquired close to 35,000 students in India.

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BrightCHAMPS acquires Edjust in cash and stock deal

Entrackr

Entrackr · 6m ago

BrightCHAMPS acquires Edjust in cash and stock deal

BrightCHAMPS acquires Edjust in cash and stock deal Edtech platform BrightCHAMPS has acquired the Indian K12 education marketplace Edjust to fortify global expansion. The cash and stock deal concludes BrightCHAMPS’s fourth acquisition since its inception in 2020 – Education10x (2021), Schola (2022), Metamorphosis Edu (2023), and now Edjust (2024). With this, Edjust’s founders will lead the company’s efforts to open up a new distribution channel. The soon-to-be-announced vertical will deliver learning in academic subjects like Maths, Science, and English for students’ all-round success and future readiness. Post-acquisition, Edjust is set to refine its sales model while also expanding its presence across 30 geographies, introducing parents to immersive digital experiences. Founded in 2022 by Dushyant Panchal, Anmol Mittal, and Sanjay Panikar, Edjust uses a combination of AI and human EQ, sophisticated data, and contact centers to ensure that only parents with a high inclination for edtech products are approached for sales. Edjust claims to have a track record of success with vast networks of parents in the US and UK. BrightChamps, led by Ravi Bhushan, offers online programming and AI courses for kids in the K-12 segment. It operates in 30 countries, including the US, Canada, Nigeria, Southeast Asia, and the Middle East. The startup also provides courses on coding, financial literacy, and robotics for children aged 6-16. In November 2021, it raised $51 million, valuing the company at $500 million. So far, BrightChamps has secured a total of $63 million through two funding rounds.

IPO bound Imarticus Learning acquires MyCaptain

Economic Times

Economic Times · 2m ago

IPO bound Imarticus Learning acquires MyCaptain

Imarticus Learning has acquired edtech startup MyCaptain for Rs 50 crore, expanding its reach into non-tech skilling across India's tier 2 and 3 cities. The acquisition aims to enhance career opportunities for over five lakh MyCaptain users. Imarticus now offers 60+ live programs in new-age careers and plans offline expansions at 20+ centers. This marks Imarticus's fourth acquisition in four years, aligning with its goal to reach 5 million learners in three years.

Rocket Learning is bridging the tech gap with AI for young learners

YourStory

YourStory · 6m ago

Rocket Learning is bridging the tech gap with AI for young learners

Rocket Learning, co-founded by Vishal Sunil, aims to bridge the digital divide by providing AI-driven educational resources to underserved learners, primarily in government pre-schools. Using platforms like Amazon Web Services, Rocket Learning delivers activity videos and learning modules via WhatsApp. The non-profit focuses on a human-centric approach in AI design, offering localized content and engagement pathways. Vishal, with a strong foundation in tech and entrepreneurship, aims to impact 50 million children by 2030.

Edtech funding drops by nearly half to $971 million in first 7 Months of 2023, tracking global trend

Business Today

Business Today · 1y ago

Edtech funding drops by nearly half to $971 million in first 7 Months of 2023, tracking global trend

Venture capital funding in India's edtech sector has declined by 48% in the first seven months of 2023, totaling $971 million compared to $1.87 billion in 2022. This drop is attributed to factors like the reopening of traditional schools, rising interest rates, and economic uncertainties. Most funding in 2023 occurred in Q2, reaching $713 million, with late-stage investments accounting for over 90%. K-12, test preparation, and higher education tech attracted the most investments. No new edtech unicorns emerged in 2023, and acquisitions decreased by 70%. Bengaluru led in total funds raised, followed by Mumbai and Gurgaon.

Kedaara Capital Backs Edtech Startup K12 Techno Services, Peak XV Gets Partial Exit

Startup News FYI

Startup News FYI · 1y ago

Kedaara Capital Backs Edtech Startup K12 Techno Services, Peak XV Gets Partial Exit

Kedaara Capital has invested an undisclosed amount in K12 Techno Services, an edtech startup based in Bengaluru. This investment will result in a partial exit for Peak XV Partners, formerly known as Sequoia Capital India. K12 Techno Services provides curriculum-based education to schools using technology, offering audio-visual content that covers the K-12 curriculum. The startup serves over 900 educational institutions and schools with more than 300,000 students. Kedaara Capital aims to accelerate K12 Techno's growth and expand its holistic education services across India at affordable prices.

Coursera bets on generative AI courses to drive growth, with India leading in enrollments: APAC MD

Economic Times

Economic Times · 9m ago

Coursera bets on generative AI courses to drive growth, with India leading in enrollments: APAC MD

Coursera, the edtech platform, is experiencing significant growth in enrollments for its generative AI (genAI) courses, with India leading the charge. India currently has 26 million registered learners on Coursera, second only to the US. However, India surpasses the US in enrollments for genAI courses. Coursera offers over 500 genAI courses and expects to continue growing its India learner base to around 28-29 million by the end of the year. The company is also actively seeking acquisitions to enhance its content offering and expand into new markets.

MyCaptain Bags Funding To Onboard More Professional Courses

Inc42 · 1y ago

MyCaptain Bags Funding To Onboard More Professional Courses

Edtech startup MyCaptain has raised INR 14 crores (around $1.6 million) in funding from investors such as Inflection Point Ventures and Ankur Capital. The platform offers courses in various fields, including content, design, visual arts, finance, and business. The funds will be used to expand into new cities, establish regional sales centers, and add more courses. MyCaptain aims to surpass 20,000 enrollments and generate INR 31 crores in revenue by FY24. This funding round comes at a challenging time for the Indian edtech space, which has seen decreasing investor interest due to the reopening of schools and colleges post-pandemic.

Edtech startup Scaler lays off 150 staffers across marketing, sales functions

Economic Times

Economic Times · 1y ago

Edtech startup Scaler lays off 150 staffers across marketing, sales functions

Bangalore-based edtech startup, Scaler, has reportedly laid off 150 employees - around 17% of its workforce - from its marketing and sales departments. Scaler confirmed the job cuts, attributing the decision to the need for long-term growth. The company, which offers skill upgrade programs for college students and tech professionals, aims to achieve sustainable growth while providing the best learning experiences and outcomes for its learners. Scaler recently launched Scaler School of Technology, a four-year residential undergraduate program, and acquired Delhi-based platform Pepcoding to strengthen its business ecosystem.

Unacademy Appoints former CRED finance head Pratik Dalal as CFO for offline vertical

Inc42 · 1y ago

Unacademy Appoints former CRED finance head Pratik Dalal as CFO for offline vertical

Bengaluru-based edtech unicorn, Unacademy, has appointed Pratik Dalal as the CFO of its offline business, Unacademy Centres. Dalal, who previously served as the head of finance at fintech unicorn CRED, brings diverse experience in corporate banking, fintech, and consumer internet. This announcement follows the resignation of Unacademy's previous CFO, Subramanian Ramachandran, three months ago. Unacademy has witnessed several executive departures in the past two years. Despite this, the startup has managed to reduce its cash burn and achieve growth in its offline business. Founded in 2015, Unacademy boasts a vast network of educators and learners and has raised over $800 million in funding.

Teacher accreditation edtech startup Centa raises $1 million

Economic Times

Economic Times · 1y ago

Teacher accreditation edtech startup Centa raises $1 million

Teacher accreditation-focused edtech startup Centa has secured $1 million in funding from 30 angel investors, including JP Morgan India Chairman Leo Puri and Medanta Group of Hospitals Chief Pankaj Sahni. Centa, founded in 2014, plans to use the capital to develop a 'teaching-as-a-service' (TaaS) marketplace. The platform aims to connect teachers globally seeking professional growth and additional income to educational institutions, including edtech companies, schools, and governments. Centa's certification and upskilling services currently reach a community of 1.5 million teachers worldwide.

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