Delhi-based B2B Edtech startup Eupheus Learning has raised $10 Mn in a Series C round from Lightrock India. The company’s cofounder Sarvesh Shrivastava told Inc42 that the funding will be used to expand the presence of the startup in India, the Middle East and South-East Asia including Bangladesh, Sri Lanka and other neighbouring countries.
The funds will help expand its B2C product portfolio that Eupheus launched last year introducing home-learning solutions, he added. Talking about expansion in terms of the user base, Shrivastava informed that Eupheus aims to reach 10 Mn+ K12 students by 2024. Eupheus currently has partnerships with 5,500 schools in India and the Middle East and reaches over 4.5 Mn students.
Founded in 2017 by Shrivastava, Ved Prakash Khatri and Amit Kapoor, Eupheus Learning provides in-classroom edtech products such as curriculum offerings like textbooks, worksheets, teaching guides and test papers for K12 students, and supplementary offerings such as coding and reading classes.
With the boom in the coding and programming segment, last year, the company launched a gamified solution for coding called ‘Learn2Code,’ in partnership with the Canadian coding company, RoboGarden. In five months of its launch, Eupheus had onboarded 700 schools, and 1.8 lakh students.
In the K12 segment, Eupheus Learning competes with the likes of edtech giant BYJU’S, Unacademy, Toppr and Vedantu. Last year, another rival Practically also expanded its services to the Middle-East market, along with launching Practically Live classes for STEM subjects and coding.
Emphasising the importance of 21st-century skills, Shrivastava added that the startup also caters to the 4Cs of a student’s developmental needs — creativity, critical thinking, communication and collaboration. “With National Education Policy (NEP), we have seen an improved adoption and demand from schools for new-age solutions. Plus, with the onset of online teaching and the impact of Covid-19 on the education sector, Eupheus is aiming to assist schools to adopt a hybrid form of teaching and learning experience.”
The startup last raised $4.1 Mn in Series B round led by United Education Company (UEC) and AI Rayan Holding Company (ARHC), enabling it to expand its offerings to the Middle East.
According to an Inc42+ edtech report, the Indian edtech market is poised to touch $10.2 Bn by 2025. K12 learning solution is expected to account for 41% of the total edtech market, where it is estimated to see a surge of 3.7x in the projected years, fuelled by coding and other STEM-related skills driving user adoption.