LoEstro Advisors
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LoEstro Advisors

This Week in Deals — May (Part 1)

Between May 1, 2022 and May 15, 2022; we saw five companies in the Indian EdTech space getting funded. Companies that got funded came from diverse segments such as Higher Education, Upskilling, and Test-Prep.

Who Got a Slice?

  • Northwest Executive Education (M&A, $100 Million): Northwest offers executive education programmes in various disciplines such as management, leadership, technology, healthcare, and innovation in partnership with universities such as Yale, UC Berkeley, MIT, University of Chicago, and UCLA. Great Learning has acquired the company for $100 Mn in a stock and cash deal.
  • ForeignAdmits (Pre-Series A, $420K): ForeignAdmits provides overseas education consulting and peer-to-peer mentorship by foreign alumni. It works with universities like Columbia, Duke, CMU, Monash, University of Toronto, and ASU. The round was led by Unicorn India Ventures.
  • Josh Talks (Series A, $3.5 Million): Josh Talks is a regional content and upskilling platform. The company will build and scale its product Josh Skills with the funding, and seeks to become the preferred social learning platform in India. The Series A round was led by Ankur Capital with marquee angels participating.
  • iNurture (Growth, $15 Million): iNurture is an upskilling platform that provides courses across multiple streams along with on-campus career development programmes and placement cells. The company has partnerships with over 30 university campuses across India. The round was led by a ADM Capital, in a mix of debt and equity.
  • Ednovate (Series A, Undisclosed): Ednovate is an online learning platform for commerce and CA (Chartered Accountants) students. It offers education through various modes including classroom coaching, recorded pen drive lectures, crash courses, test series, and mentorship programmes. The undisclosed round was led Dr Vinay Jain, Ajay Sarupria and Kaushik Mehta.

Globally, Manara (Tech Upskilling), Explore Interactive (STEM Learning), and OneDay (EdTech for Entrepreneurs) raised funding.

Watch this space for more on EdTech, Education, and everything in between.

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