Page 18 - Edtech

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

EdTech startup Tekie raises $1.5mn in seed fund from GSV, Multiply Ventures

Better Capital has also participated in the round

Boost your skills via e-learning to enhance your career in Covid times

Online courses work as well as offline ones today, for those seeking a career shift or pay hike, or for those out of jobs

Edtech startup Teachmint raises $16.5 million in Series A funding round

Online teaching platform Teachmint on Tuesday said it has raised USD 16.5 million (around Rs 120 crore) in a Series A funding round led by Learn Capital. This investment round also witnessed participation from CM Ventures, and existing investors like Lightspeed and Better Capital, the company said in a statement. This is Teachmint's third round of investments within 10 months of its launch in May 2020, raising more than USD 20 million in capital. The ed-tech firm will use these funds for hiring top talent, R&D on teaching technology, strategic acquisitions and further market expansion. We are excited to welcome Learn Capital who have been partners to the journeys of some of the largest education companies globally. We look forward to learning from their experience across global markets. We are also thankful to CM Ventures as well as our existing investors Lightspeed and Better Capital for their continued support towards our cause, Teachmint co-founder and CEO Mihir Gupta added.

Byju's to raise $150 mn from UBS, to be valued at $16.5 bn: Report

Byju's is raising about USD 150 million from UBS Group AG that will value the edtech major at about USD 16.5 billion, according to sources. UBS could also infuse additional funding into Byju's that has seen significant growth in the past few quarters on the back of strong uptake of online education, the sources close to the development said. Byju's declined to comment, while response from UBS Group AG could not be immediately ascertained. Think & Learn Pvt Ltd, which operatesByju's, is backed by marquee investors like Mary Meeker, Yuri Milner, Chan-Zuckerberg Initiative, Tencent, Sequoia Capital, Tiger Global and others. It is estimated to have raised over USD 2 billion in funding to date. Byju's is said to be looking at raising USD 600-700 million in funding to further accelerate growth. Earlier this month,Byju's, which is the most-valued edtech start-up in the country, had acquired Aakash Educational Services Ltd (AESL) to bolster its presence in the test preparation segment in

With Temasek's $120 mn, Ronnie Screwvala's UpGrad set for $1 bn valuation

Entrepreneur says his upskilling startup is targeting $2 billion in revenue by 2026.

K-12 EdTech player LEAD School secures $30 mn in Series D round fundraise

The company's Integrated System for schools has driven 3X growth in 2020 by helping schools deliver uninterrupted learning whether online, hybrid or in physical classrooms

Edtech start-up upGrad raises $120 mn funding from Singapore-based Temasek

upGrad on Monday said it has raised USD 120 million (about Rs 897.3 crore) from Singapore-based Temasek, making this the first external fund-raise by the edtech major. Since its inception in 2015, upGrad has been 100 per cent owned, funded, and run by its co-founders as a capital-efficient business. upGrad plans to use the fresh capital to further strengthen its team, scale its global market operations and bolster its technology and product capabilities, a statement said. The company will also pursue merger and acquisition (M&A) opportunities, expand graduate and post-graduate degree portfolio in India, and scale up operations to achieve its USD 2 billion revenue goal by 2026, it added. "We welcome Temasek in our mission to power career success for each and every member of the global workforce as their trusted LifeLongLearning partner and drive meaningful career outcomes," upGrad co-founder Ronnie Screwvala said. This capital will further fuel the company's commitment towards ...