New Delhi-based education content company S Chand has agreed to acquire a minority stake in Bengaluru-based edtech startup iNeuron Intelligence Private Limited. The round also includes investments from Mukesh Sharma Family Trust, Directors of S Chand, Key Managerial Personnel of S Chand, and others.
The co-Investor Mr. Mukesh Sharma is a serial entrepreneur and educationist who has founded multiple companies including QA InfoTech (now a Qualitest company), one of the leading software testing and quality assurance companies, the company said in a release.
Founded in 2019 by Sudhanshu Kumar and Krish Nai, iNeuron Intelligence offers affordable online courses, live projects, support, and placements for college students and working professionals in the field of Data Sciences, Artificial Intelligence, Machine Learning, Cloud, etc.
The edtech startup is also expanding its technology and other courses in the K-12 segment with the motto "Education as a Service".
The online education space is exploding in a post covid world. The courses are for emerging technologies which will make the learners more employable now and in the future.
With an experienced team and a proven business model, iNeuron has emerged to be a successful startup in scaling the business to the next level with minimum investments and has been profitable for the first two years of operation. At present, there is no cash burn in the business, the statement said.
Additionally, iNeuron Intelligence has a low customer acquisition cost (CAC) and investments in new courses/team/marketing/ support and placements would increase enrollments.
According to the release, iNeuron Intelligence reported Rs 7.2 crore in revenue for FY20-21, almost a 4x increase compared to Rs 1.5 crore in FY19-20. At the same time, the edtech firm also saw an increase in profit after tax (PAT) from Rs 30 lakh in FY19-20 to Rs 1.8 crore in FY20-21.
With the investment from S Chand and other investors, iNeuron Intelligence will focus on content creation, marketing, incubation center, etc. the edtech firm also looking to expand by launching technology-focused courses.
Apart from iNeuron, S Chand has minority stakes in two other edtech companies --- Testbook Edu Solutions and Smartivity Labs --- which are operating in online test preparation and STEM learning business.