Delhi-based business-to-business edtech company Eupheus Learning announced Tuesday that it had acquired ClassKlap for $ 19 million (Rs.139 billion) in an all-stock deal.
“This will make Eupheus Learning the largest school-focused edtech company in India and the only K-12 company that is active in both premium and affordable schools,” the company said.
Eupheus Learning focuses on premium schools and has a reach of 13,000 schools. ClassKlap is dominant in the affordable private school segment with the intention of personalizing learning for children. The combined company will have a reach of 18,000 schools with a sales team of more than 200 members, the statement said.
“This (takeover) will not only achieve economies of scale, but will also improve the traditional channel of care for schools through the introduction of hybrid solutions. We are now in a better position to offer students personalized solutions and to support their overall development through integrated curricular and co-curricular solutions – one of the most important mandates of the NEP (National Education Policy) 2020 ”, said Amit Kapoor, co-founder of Eupheus Learning.
ClassKlap co-founders, Varun Kumar and Naveen Mandava, said in a statement: “With this integration, ClassKlap can unlock greater potential in the premium school segment. In addition, with our personalization technology and focus on learning analytics, our combined ability to transform classroom learning using student data can be massively expanded. ”
Eupheus Learning was founded in June 2017 and raised $ 10 million earlier this month in a Series C funding round led by Lightrock India, a global private equity platform. The proceeds will be used to expand the business through the expansion of the product portfolio and the development of new markets as well as acquisitions. So far, around $ 20 million has been raised.
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