Eupheus Learning, a B2B edtech company based in India, has successfully acquired ClassKlap in an all-stock deal for $19 million (Rs 139 crore).
According to the company, the move will help it become India's largest school-focused edtech firm and the only K-12 company to thrive in both the premium and affordable school sectors. Furthermore, the joint entity would have a reach of 18,000 schools and a sales staff of more than 200 people.
Eupheus Learning has a reach across 13,000 schools and has been focused on premium schools. Meanwhile, ClassKlap has dominated the affordable private school market with an eye to personalize learning for youngsters.
Amit Kapoor, Co-Founder, Eupheus Learning, said that this acquisition would result in cost savings and improvement in the traditional channel of school service by providing hybrid solutions. One of the primary goals of NEP (National Education Policy) 2020 is to provide personalized explanations to students, assisting their overall expansion through cohesive curricular and co-curricular solutions.
ClassKlap Co-Founders, Naveen Mandava and Varun Kumar said in a statement that ClassKlap would tap into more potential in the premium school market with this collaboration. Furthermore, the combined capacity to alter classroom learning using student data can be scaled up using customization technology and learning analytics.
Earlier this month, Eupheus Learning had bagged $10 million in a Series C investment round led by global private equity platform, Lightrock India. The funds will be used to grow the company's product line and penetrate new markets and seek acquisitions. So far, it has raised almost $20 million.
Other firms in India’s edtech sector have also been expanding their presence. For instance, last week, Byju's, an edtech company, revealed that it had purchased Tynker, a coding platform located in the United States, in a stock-and-cash deal. According to sources familiar with the matter, Byju's spent $150-200 million for the acquisition.