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Edtech Startup Classplus Opens College To Provide Offline BTech Courses
Inc42
·
1y ago
Medial
Classplus, an edtech startup, has opened its first college called Polaris School of Technology (PST) in Bengaluru. PST will offer a four-year BTech programme that provides students with classroom learning and hands-on industry experience. The move marks Classplus' expansion into offline tech education, providing an opportunity for students to learn in a traditional classroom setting.
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Classplus Invests In Gujarat-Based Test Prep Platform GyanLive
Inc42
·
1y ago
Medial
Edtech unicorn Classplus has made a strategic investment in Gujarat-based startup GyanLive, which offers test preparation courses for state government job aspirants. GyanLive plans to use the funds to expand into national-level government job exams and school exam preparation in regional languages. The partnership will also allow GyanLive to leverage Classplus' technology to improve its tech stack. Classplus has previously made investments in edtech startups like Abhay Maths and Saarthi, although some of these investments have been involved in controversies. Classplus reported a net loss of INR 256.6 crore ($34 million) in FY23, with operating revenue of INR 102.04 crore.
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Tiger Global-backed Classplus eyes M&As, new offerings as cash burn reduces
VCCircle
·
8m ago
Medial
Classplus, an edtech startup backed by investors like Tiger Global and Blume Ventures, is looking to engage in mergers and acquisitions as it reduces its cash burn. The company has recently raised $70 million in funding and has enough resources to pursue acquisition opportunities. Classplus offers a platform that allows tutors to transform their offline coaching businesses into online learning experiences. The startup aims to expand its offerings and grow its market share in the competitive edtech industry.
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Classplus’ revenue grows 3.3X to Rs 149 Cr in FY23
Entrackr
·
1y ago
Medial
Delhi-based B2B edtech startup Classplus raised $70 million in a Series C funding round, enabling it to achieve a four-fold growth in operations during the last fiscal year. Its total revenue grew by 3.3 times to Rs 149.2 crore in FY23, with operational revenue rising four times to Rs 102 crore. Classplus offers a mobile solution for educators to monetize their student base by selling online courses. The company focused on controlling overhead expenses, although overall expenditure increased by 16 times in FY22. Employee benefits accounted for 56.5% of the expenses.
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YouTube, Unicorn, $500-Million IPO: PhysicsWallah Founder Alakh Pandey's Rags to Riches Story
OutlookIndia
·
3m ago
Medial
PhysicsWallah, founded by Alakh Pandey, is a unicorn edtech startup in India poised to launch a $500 million IPO. Alakh Pandey, who dropped out of college to become a full-time tutor, created PhysicsWallah from modest beginnings, focusing on affordable education. The startup, co-founded with Prateek Maheshwari, has expanded into offline centers and amassed significant user engagement online. Despite facing edtech sector challenges, PhysicsWallah continues to grow while aiming for strategic acquisitions and broader market penetration.
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Edtech Soonicorn Classplus Announces Second ESOP Buyback For Over 150 Employees
Inc42
·
1y ago
Medial
Delhi NCR-based edtech startup, Classplus, has launched its second employee stock ownership plan (ESOP) buyback program, allowing over 150 employees to sell their vested shares. The exact amount dedicated to the buyback remains undisclosed. Classplus became the first edtech startup to announce a buyback this year. With 748 employees, over 20% of them are eligible for the program. In its first ESOP buyback, 30 employees participated, resulting in a worth of $1 million. ESOP allocations are expected to increase this year, with 55% of Indian startup founders relying on them to attract talent.
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Edtech startup Saarthi initiates legal actions against ClassPlus over troubled acquisition
Money Control
·
1y ago
Medial
Edtech startup Saarthi takes legal action against Classplus over a contentious acquisition. Saarthi alleges issues related to the acquisition process and seeks resolution through legal means. This development highlights the challenges and disputes that can arise in the startup ecosystem, impacting acquisition strategies and business operations within the edtech industry.
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Edtech startup Classplus named in cheating, forgery case by Abhinay Maths
Economic Times
·
1y ago
Medial
Edtech startup Classplus is facing allegations of cheating and breach of trust by Abhinay Maths, a math-focused test prep platform operator. Abhinay Maths, which initially started as a YouTube channel, later developed an app with the help of Classplus. The founder of Abhinay Maths has accused Classplus of engaging in activities that caused financial losses and damage to the company's reputation. The allegations include forging digital signatures, unauthorized acquisition of assets, and creating forged documents. Classplus, valued at over $600 million, has not yet responded to the accusations.
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Acquisition gone wrong: Saarthi and investors file lawsuit against Classplus
Startup News FYI
·
1y ago
Medial
Edtech startup Saarthi, along with its co-founder Chiraag Kapil and a group of investors, has taken legal action against Classplus in the Delhi High Court (HC) over allegations of cheating and criminal breach of trust. The lawsuit centers around Classplus' acquisition of Saarthi in 2022 and subsequent discrepancies in the execution of the deal.
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Alakh Pandey’s PW to offer full tuition waivers for children of SSB martyrs and personnel
IndianStartupNews
·
1d ago
Medial
Physics Wallah (PW), led by Alakh Pandey, has partnered with the SSB Wives Welfare Association, Sandiksha, to provide full tuition waivers for children of Sashastra Seema Bal (SSB) martyrs. This initiative also offers a 35% scholarship for offline and a 25% scholarship for online courses to children of serving and retired SSB personnel. The scholarships cover various competitive exam preparation courses, accessible through PW's online and offline centers across India.
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Foreign university returnees now lead Campus Fund’s startup deal flow
Economic Times
·
29d ago
Medial
The Campus Fund report reveals that student founders from foreign universities now lead in sourcing deals, highlighting a shift in innovation dynamics. The fund, supporting startups in various sectors like AI, biotech, and cleantech, emphasizes the role of college labs and hostels in shaping India's next big companies. With BTech graduates leading startup creation and women heading 26% of them, the landscape points toward diverse and potentially transformative entrepreneurial growth.
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