BrightCHAMPS Marks Third Acquisition, Picks Up Metamorphosis Edu

Edtech soonicorn BrightCHAMPS has acquired Hyderabad-based edtech startup Metamorphosis Edu in a cash and stock deal, without revealing the exact financial details of the acquisition.

Founded in 2020, Metamorphosis Edu partners with schools across India to train students in entrepreneurship-related skills, also helping them to comply with the National Education Policy (NEP).

Speaking on the acquisition, BrightCHAMPS founder and CEO Ravi Bhushan said, “Metamorphosis is the perfect partner to help us achieve this goal of substantially widening access to our curriculum at lower price points through partnerships with schools. We’re confident that this acquisition will help both teams achieve great things.”

With this acquisition, BrightCHAMPS has marked its foray into the B2B vertical, with Metamorphosis Edu founder Pavan Allena leading the vertical, reporting to CFO Amit Kumar. While Metamorphosis Edu focussed on setting up entrepreneurship cells in schools to teach its courses so far, it plans to introduce more skill-based learning courses with BrightCHAMPS’ B2B arm.

The B2B partnerships will also help the edtech soonicorn to set up labs within schools and also train teachers in curriculum by industry experts and vetted by a self-regulatory board, the BrightCHAMPS Global Curriculum Advisory Board.

Metamorphosis Edu has a total of 22 employees, excluding 40 to 50 teachers working as consultants, all of whom will be absorbed by BrightCHAMPS.

Speaking on the acquisition, Metamorphosis founder Pavan Allena said, “We’re excited to be a part of the growing BrightCHAMPS family and its mission. With the might of the 3,000-people-strong BrightCHAMPS team thrown behind us, we will be able to cater to school requirements based on different learning needs faster, at scale, and more cost-effectively. All of which will accelerate access, which is the ultimate goal.”

Founded in 2020 by Bhushan, BrightCHAMPS offers online courses in programming, artificial intelligence, design thinking, languages and financial literacy to children between 6 and 16 years of age. It is currently operational in over 30 countries, including India, Indonesia, Vietnam, Malaysia, the US and the United Arab Emirates.

The edtech startup last raised $63 Mn in November 2021 at a post-money valuation of $650 Mn. In June 2022, BrightCHAMPS said that it has plans to complete mergers and acquisitions worth $100 Mn through cash and stock deals.

So far, it has picked up two companies before acquiring Metamorphosis Edu.

Last August, the edtech soonicorn acquired Singapore-based Schola in a $15 Mn cash and stock deal. Earlier in February 2022, BrightCHAMPS marked its first acquisition, picking up Education10x, in a cash and stock deal of undisclosed value.

The edtech posted a loss of INR 98.7 Cr in FY22 as against a loss of INR 3.5 Cr from July 7, 2020, to March 31, 2021. FY22 was its first full year of operations as operating revenue jumped to INR 22.5 Cr from INR 2 Cr in the previous year.

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