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This Week in Deals — September 2021 (Part 2)

Between September 16, 2021 and September 30, 2021, we saw twelve companies in the Indian EdTech space getting funded or acquired. Companies that got funded came from diverse segments such as Upskilling/Reskilling, Higher Education, Upskilling/Reskilling, K-12 learning, and Coding.

Who Got a Slice?

  • Genext Students (Majority, Undisclosed): End-to-end teaching solution for tutors — curriculum help, teacher training & mentorship, attendance, and tests. Learning solution for students — live interactive classes, study notes, assessments, and doubt solving. Navneet Tech Ventures Private Limited (NTVPL) the wholly-owned subsidiary of NEL acquired a 51.8 percent stake in the company.
  • Mindler (Pre Series A, $1.5 Million): Founded in 2015, Mindler is a tech-enabled platform for career planning and development for students. Mindler also offers a SaaS platform for educators and edtech partners to create their own career guidance platform. The pre-Series A round was led by Ecosystem Ventures, Inflection Point Ventures, nVentures Singapore, and Chennai Angels.
  • Expertrons (Growth, Undisclosed): Expertrons is a library of career videobots of experts who share their experience of landing a job, internship or B-school. Aspirants can get connected to AI recommended experts and get hired through a referral. The company raised an undisclosed sum from Kunal Shah (Founder of CRED ) and Anant Maheshwari (President, Microsoft India).
  • CuriousJr (Seed, $1 Million): CuriousJr is a mobile-first, vernacular-based, online platform focused on students between the ages 8 and 17 years. The platform helps students learn coding with the help of bite-sized content, test their knowledge in a practice arena, and publish their creations on the CuriousJr app store, which they can then share with friends, family and the larger community. The round was led by WaterBridge Ventures and Enzia Ventures.
  • ClassKlap (M&A, $19 Million): ClassKlap is a school-based personalized curriculum programme adopted by close to 800 affordable private schools in India. The company was acquired by Eupheus Learning for $19 million.
  • FrontRow (Series A, $14 Million): FrontRow offers classes taught by celebrities in fields such as music, cricket or comedy, paired with a community platform that gives learners regular activities, competitions and peer engagement to practice and showcase their talent. The Series A round was led by Eight Roads Ventures and GSV, with participation from existing investors Lightspeed and Elevation Capital.
  • Leverage Edu (Growth, Undisclosed): Leverage Edu is a platform that helps students match to the right higher education option, along with university applications, test prep, and financing. The startup raised an undisclosed amount of growth capital from Vijay Shekhar Sharma, Rohit Kapoor, Amanpreet Bajaj, Lalit Singh, and Mohit Garg, and others.
  • Edureka (M&A, $33 Million): By partnering with institutes like IITs, NITs and international universities like Purdue, Edureka offers training in Cloud Computing, DevOps, AI-ML, Data Science, Web Development, Cybersecurity, and other emerging technologies in addition to its own library of training resources. The company was acquired by Veranda Learning.
  • 88academics (Pre Series A, $3 Million): 88academics provides video-based learning material in line with the New Education Policy 2020 for English, Maths, Science, Information Technology, and regional languages. The Pre-Series A round was led by Aarin Capital Partners.
  • byteXL (Angel, $200K): The company offers career accelerator programmes for college students. The startup raised $200,000 in an angel round from Joseph Joy, President of Joy Family Investments.
  • Vedantu (Series E, $100 Million): Vedantu’s courses range from classes for young students — from 3 years old to 18 years old — to competitive exam preparations such as IIT-JEE, NEET, Commerce, CBSE, ICSE, and state exams such as Maharashtra Boards. The Series E funding was led by ABC World Asia, with participation from existing investors — Coatue, Tiger Global, GGV Capital, and WestBridge among others.
  • Cusmat (Pre Series A, $100K): Cusmat enables organisations to onboard, assess, train, upskill, plan learning tracks for the employees to maximise retention rates, and on the job performance by using its AR/VR, cloud-based learning management system. The pre-series A round was led by We Founder Circle, along with participation from Venture Catalyst, Better Inc., and MapmyIndia.

Globally, Maqsad (K-12 Learning), BrainGym Jr (Early Education), Fiveable (K-12 Learning), Clevai (K-12 Learning), T-Labs (Language Learning Platform), CoderSchool (Coding programmes), MyTutor (Tutor Marketplace), and Edves (LMS) raised capital.

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

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LoEstro Advisors

LoEstro Advisors

Advisory firm with sharp focus on Fundraise, M&A, and Strategic Consulting.