Eupheus Learning, a Delhi-based B2B edtech startup, has raised $10 million (Rs 73.7 crore) in a Series C funding round led by private equity firm Lightrock India.
Eupheus Learning will utilize the raised capital to scale faster, expand geographically, pursue acquisitions, and extend its product line, according to the startup.
The startup operates a curriculum-focused distribution platform geared toward schools founded by Sarvesh Shrivastava, Ved Prakash Khatri, and Amit Kapoor in June 2017. It collaborates with over 5,500 schools in India and the Middle East through its curricular and supplemental programs.
“With the evolution of online teaching and the impact of Covid-19 on the education sector, we at Eupheus Learning are assisting schools to adopt a hybrid form of teaching and learning experience by providing 21st-century learning solutions to students,” said Sarvesh Shrivastava, co-founder and Managing Director of Eupheus Learning.
“We also intend to go beyond the current focus on premium schools into the affordable segment. We are exploring acquisitions in the content and technology space. We are also stepping up home learning solutions which will be promoted through schools,” Shrivastava added.
He further added that Eupheus aims to reach more than 10 million K12 pupils by the year 2024. It currently has partnerships with 5,500 schools in India and the Middle East and reaches over 4.5 million students.
Last year, the startup had partnered with RoboGarden, a Canadian coding platform, to offer a gamified coding solution dubbed "Learn2Code." Eupheus has 700 schools and 1.8 lakh kids on board within five months of its start.
Prior to the current round, It had raised $4.1 million in Series B funding round earlier this year for domestic and worldwide expansion, led by Kuwait-based United Education Company and Al Rayan Holding Company.
Sixth Sense Ventures, through its second fund, Sixth Sense India Opportunities II, was the first institutional investor to fund the startup that owns a large portion of the corporation. Yuj Kutumb, who is funded by Sid Yog's family office and is a founding partner of The Xander Group Inc., has also invested in the company.
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