SUMMARY
Moodle plans to completely integrate its teams and processes with the eAbyas platform over the next six months
This deal will enable Moodle to expand its presence in the Indian edtech space, which is projected to reach a market size of $10.4 Bn by 2025
Through this acquisition, Moodle plans to leverage eAbyas’ capabilities in PHP development to offer customised products to its clients
Australia-based learning management platform Moodle has acquired Hyderabad-based edtech startup eAbyas for an undisclosed amount.
In a statement, Moodle said that it plans to complete the task of integrating teams and processes with the eAbyas platform over the next six months. With this move, Moodle has also put into motion the plans for the official launch of its Indian operation in 2023.
As part of the move, eAbyas will move to a new website and redefine its go-to-marketing strategy.
This deal will enable Moodle to expand its presence in the Indian edtech space and create direct relationships with local customers. The acquisition will help Moodle strengthen its growth trajectory and leverage eAbyas’ capabilities in PHP development to offer customised products to its clients.
The move will also bolster Moodle’s global network and accelerate the platform’s ability to support bigger clients.
“…eAbyas team has strong expertise in providing learning solutions to institutes and corporations. With this acquisition, we look forward to extending Moodle LMS services to a wide Indian eLearning market, and contribute to Moodle’ global development and services,” said Sushil Karampuri, the chief executive officer and founder of eAbyas.
Meanwhile, Moodle’s CEO and founder Martin Dougiamas said, “All our Moodle Partners in India have great technical expertise built up over many years, and it felt like the right time for us to work more closely together, both to serve educators in India and to improve our open-source Moodle technology. This is a great step forward for all of us in the Moodle community, and we give a warm welcome to Sushil and his team at eAbyas!”
Founded in 2010 by Sushil Karampuri, eAbyas is an edtech platform that caters to the digital learning needs of higher education institutions, corporates, and government agencies. The startup also offers consultancy and training services for the administration and deployment of Moodle products.
Edtech In Troubled Waters
The announcement comes at a time when the Indian edtech space is undergoing a major upheaval. After a successful 2021, which saw edtech startups raising more than $4.7 Bn in funding, the sector came down with a thump in 2022.
Funding numbers fell drastically to $1.9 Bn in the first half of the current year. The scarcity of capital largely got triggered by a volatile market, tightening of monetary policies, and apprehensions of a recession.
The players in the edtech space had to resort to massive layoffs and defer their expansion plans. Indian edtech players, including giants such as BYJU’s and Unacademy, have fired more than 7,500 employees so far this year. Decacorn BYJU’S has also been winding down its operations in many parts of the country.
What has complicated matters for the edtech space has largely been mourning losses and no clear path to profitability.
eAbyas’ acquisition also comes at a time when the edtech space is witnessing a number of mergers and acquisitions (M&As). Last month, Vedantu acquired Deeksha for $40 Mn, while Veranda Learning Solutions picked up a majority stake in JK Shah Education for INR 337 Cr.
Ronnie Screvwala-backed upGrad led the race with the acquisition of multiple startups, including Wolves India, Harappa Education, Exampur and Centum Learning.
Despite the cash crunch and negative market sentiments, the Indian edtech space refuses to slow down. The top players continued to be locked in a battle for a piece of the highly lucrative edtech space, which is projected to reach a market size of $10.4 Bn by 2025.
