Page 9 - Edtech

Blackstone to acquire majority stake in Simplilearn for $250 million

Simplilearn Solutions on Monday said Blackstone will acquire a majority stake in the edutech company for USD 250 million (about Rs 1,860 crore). Private equity funds managed by Blackstone have entered into a definitive agreement to acquire a controlling stake in Simplilearn Solutions, a statement said. Simplilearn founder and CEO Krishna Kumar said Blackstone is investing USD 250 million in the company. The previous investors - Kalaari Capital, Helion Venture Partners and Mayfield Fund - have exited now, but the management of Simplilearn remains the same and their stake will also remain unaffected, he told PTI. Details of the quantum of the stake being bought and valuation of Simplilearn were not disclosed. Simplilearn was founded in 2010 and the company has been profitable for the fourth year in a row. The platform offers over 100 programmes to help early to mid-career professionals acquire new-age digital skills across cloud, DevOps, data science, artificial intelligence and ..

Capital India infuses over Rs 187 crore in education fintech Credenc

Capital India Finance Ltd (CIFL) on Monday said it has invested over Rs 187 crore (USD 25 million) in education-focussed lending fintech Credenc.

Edtech firms MPOWER, Credenc get $125 mn in funding for business growth

The companies work with Indian students going abroad for education, partner with colleges and companies.

Blackstone invests $250 mn in edtech firm Simplilearn, gets majority stake

Indian startup company offers more than 100 programmes to help early to mid-career professionals

Coffee with BS: Manipal group's Ranjan Pai on charting an ambitious course

Pai is charting an ambitious course for his group in his characteristic self-assured and understated manner, writes Anjuli Bhargava

Vedantu ties up with AI-based interactive digital books platform Pedagogy

The Tiger Global-backed edtech firm intends to make Pedagogy's unique product accessible to Vedantu's 30 million students at an affordable price.

AdmitKard raises Rs 10 cr in pre-series A round from startup founders

The pandemic certainly wreaked havoc on the start-up industry, however, ed-tech has been one of the sectors to witness growth in traction

NSDC, WhiteHat Jr to build capacity of coding trainers in India

The National Skill Development Corporation (NSDC) on Monday announced it has empaneled edtech company WhiteHat Jr as its training partner to accelerate Skill India Mission

Teachmint raises $20 million in funding round led by Learn Capital

Edtech platform Teachmint on Thursday said that it has raised USD 20 million (around Rs 149 crore) in a pre-series B round led by Learn Capital with participation from CM Ventures. The company plans to use the fresh funds on the development of live teaching technology as well as aid the enhancement of their product. "The funding will also fuel Teachmint's expansion into newer markets and the hiring of skilled talent," the company said in a statement. Teachmint provides a video-based teaching platform for teachers. In May 2021, Teachmint raised USD 16.5 million in series A funding led by Learn Capital with participation from CM Ventures, Lightspeed, and Better Capital. "It has been truly humbling to see the widespread adoption of Teachmint by teachers and students across India. With our platform usage growing 25 times over the last quarter, we are becoming the default teaching application in India and the largest live teaching platform globally, outside China," Teachmint co-founder

Edtech firm upGrad earmarks $250 mn for M&A, non-linear growth

upGrad is set to cross $500 million annual revenue run rate by March 2022 and is looking to raise close to $400 million at a $4 billion valuation.

EdTech start-up Nalanda Learning raises Rs 40 cr from Aavishkaar Capital

Education technology start-up Nalanda Learning Systems has raised Rs 40 crore from Aavishkaar Capital to expand operations nationally.

Edtech startup upGrad set to join unicorn club with $4-billion valuation

Eyes $400 million at 5 times current value

Vedantu eyes $200 mn run rate, to hit profitability by June next year

Online live tutoring platform Vedantu on Friday said it expects its revenue run rate to more than double to USD 200 million and hit profitability by June next year. Vedantu, which competes with players like Byju's, has seen month-on-month revenue growth of 50 per cent in April and May this year. Its revenue grew 4x in May 2021 over last year and its current revenue run rate is at about USD 60 million. "Currently, Vedantu is at cash flow profitability of more than 15 per cent on the unit level and is looking at achieving a USD 200 million run rate in the next 12 months with overall company profitability. The platform has a strong community of over 30 million registered users and added 22 million new users since the pandemic began," a statement said. It added that personalised access, interactive classes, and 24/7 customised content have resulted in "4X annual growth in paid subscribers to more than 200,000". Vedantu said it has witnessed majority adoption from outside the top 10 ci

'Edtech sector witnesses surge in demand for digital skills'

Edtech sector has witnessed a 90 per cent surge in demand for digital skills amid the pandemic, according to TeamLease Edtech.

WhiteHat Jr joins NGO Cry to help kids make real-life mobile apps

Edtech company WhiteHat Jr on Tuesday said it has partnered non-governmental organisation CRY - Child Rights and You to inspire children to create real-world mobile applications

At $16.5 bn, Byju's most valuable startup in India after raising $350 mn

As per CB Insights data, as of June 2021, Byju's is the 11th most valuable startup in the world

upGrad plans to hire over 1,000 employees in 3 months as demand grows

Global edtech firm upGrad on Tuesday said it is planning to hire over 1,000 people in India in the next three months across departments to address the growing demand of the company. The opportunities will be across departments like Learning Experience, Delivery, Marketing, and Program, along with Sales which will remain predominant, upGrad said in a statement. The edtech company will be hiring from its own learners' talent pool through upGrad Rekrut hiring drive. The fresh Sales recruits will work in a 'Temporary Safe Workplace Bubbles' across 5-star hotel properties in Mumbai and Bangalore, which will further extend to cities like Hyderabad, Delhi and Kolkata. "Our hiring plan is a result of the rapid growth that we have seen in the last 18 months. With global expansions taking shape, we are all set to ramp up our support and business teams to continue meeting the strong demand for LifeLongLearning that we are experiencing, upGrad CEO- India, Arjun Mohan added.

Rocket Learning aims to change academic fate of kids at bottom of pyramid

How Rocket Learning is laying the foundation of education for children from low-income families

Edtech startup Avishkaar raises Rs 5 crore of funding in pre-series A

Avishkaar plans to utilize the funding towards product development and further expansion of its portfolio in addition to hiring talent

Edtech startup Testbook now has 1.8 million paid users, 18 mn subscribers

Edtech startup Testbook on Monday said it has crossed over 1.8 mn paid users from the total of 18 mn registered users on its platform