Page 3 - Edtech

Edtech firm iNurture raises $15 mn from ADM Capital in debt and equity

Currently, the company has partnerships with over 30 university campuses across India, offering over 50 programmes on campus, and has more than 15,000 students enrolled in these programmes.

Veranda Learning Solutions IPO subscribed 74% on first day of offer

The initial public offering of Veranda Learning Solutions Limited received 74 per cent subscription on the first day on Tuesday

VC investments fall 25% sequentially in Q1CY22: KPMG's Venture Pulse report

Rising commodity prices, geopolitical uncertainty weigh on sentiment: KPMG report

Edtech startup Newton School raises $25 mn from Steadview Capital, others

Founded in 2019 by IIT batchmates Nishant Chandra and Siddharth Maheshwari, Newton School was built to democratise higher education.

Newton School secures $25 mn in funding led by Steadview Capital

The capital raised will be used to accelerate the company's growth and expand its team, technology and brand building initiatives, the company said

Edtech entrepreneur Ashwin Damera invests Rs 240 cr in InnoVen Capital Fund

Damera is co-founder of Eruditus and Emeritus, a leading global ed-tech platform currently valued at $3.2 billion

Byju's names Amazon veteran VP tech as it scales up learning products

In his new role, Vedhanarayanan Ganeshkumar will also build and lead a talented team of engineers, software development managers, product managers, program managers

TMS Ep147: Edtech sector, electric two-wheelers, IT sector Q4, KYC

What's stressing India's edtech sector? Moment of reckoning for electric two-wheeler makers? Will the IT sector deliver a stellar show in Q4? What is KYC? Find all answers here

SoftBank-backed Unacademy lays off 600 employees in cost-cutting drive

That's nearly 10% of the company's workforce and comes in the aftermath of the pandemic; the move follows termination if 100 staffers from PropLadder team in March

Talentedge's owner takes stake in upGrad at $2 bn value after integration

Edtech major upGrad on Thursday said it has integrated all of Talentedge's business, which will operate under its own name

Edtech unicorns go hybrid to tap India's $180 billion education sector

Innovations and strategies in the works to build offline presence

Vedantu on track to be 'IPO-ready' in 18-24 months

Edtech startup Vedantu on Thursday said it is on track to be "IPO-ready" in 18-24 months, and is upbeat about the India market prospects that offer ample headroom for growth. With COVID-19 cases receding and offline learning modes opening up, the blazing pace of growth in online learning has sobered a bit, but the market is still yielding robust growth numbers, it said. The company said that as much as 90-95 per cent of the market remains unpenetrated, offering massive scope for edtech players to expand. Vedantu said it is adequately funded for now, and does not anticipate fresh funding requirement for the next two years. The company, last year, raised USD 100 million from a clutch of investors, and had entered the coveted unicorn club. "Within the time frame of 18-24 months we want to be IPO-ready, which means the shape of our P&L (Profit and Loss), our systems and associated processes, we want to be robust and mature in those," Vamsi Krishna, CEO and co-founder of Vedantu, said .

Edtech firm Vedantu launches platform for immersive live learning

W.A.V.E 2.0 technology measures more than 100 parameters using artificial intelligence and machine learning.

Classplus bags $70 mn in Series D round co-led by Alpha Wave, Tiger Global

The new round values Classplus close to $600 million, a more than 2X jump in the valuation from the previous round.

Noida-based edtech startup Classplus raises $70 mn in fresh funding

The new funding round came eight months after Classplus raised a $65 million series C funding in June last year.

Edtech firm Schoolnet aims Rs 6,000 cr revenue in next 5-7 years

Edtech firm Schoolnet aims to grow multifold to generate Rs 6,000 crore in the next 5-7 years from expansion of services in schools and subscriber growth on its learning app. The 25-year old firm provides digital classrooms to around 40,000 schools at present, along with digital learning content and trains teachers, Schoolnet head of strategy Arindam Ghosh said. The company claims to have reached a revenue of Rs 800 crore before the COVID-19 outbreak, but it came down due to the closing of schools during the lockdown. Ghosh said the company expects to close the current financial year with a consolidated number of around Rs 400 - 450 crore if all goes well. "There was an impact on the overall revenue during the Covid times, but we have maintained profitability even in this current year. We would be maintaining that. In long term, we are looking at revenue of Rs 6,000 crore over a 57-year horizon for which significant augmentation of resources will be required," he said. The company

Online higher education, lifelong learning mkt to hit $5bn by 2025: Redseer

Relaxation in rules governing degrees, supply-side capacity gap will be key drivers of this growth, going forward

Leverage Edu raises $22 mn in Series B funding at $120 mn valuation

Prominent individual investors like Morgan Stanley MD Hemant Gupta, CRED founder Kunal Shah, BookMyShow founder Ashish Hemrajani joined the funding round

Amazon Academy starts JEE, NEET courses for aspiring engineers, doctors

As part of these packs, the students will get a total of 360+ hours of live lectures across key subjects on Amazon Academy.

Torus Primero aims to provide vocational training to 1 mn in 18 months

Torus Primero Edutech is the fourth initiative being launched by Cosmea Financial Holdings (CFH) under its portfolio