SUMMARY
BrightCHAMPS is currently valued at $650 Mn
Schola is a platform that provides a variety of courses in a live, one-on-one class model for children between the ages of 4 and 15
The startup currently operates in 12 countries, including Vietnam, Thailand, Korea, Japan, Malaysia, and others
Edtech soonicorn brightchamps
has acquired a Singapore-based live-learning platform for kids, Schola, in a $15 Mn cash and stock deal. The deal marked the edtech soonicorn’s second-ever acquisition after it acquired Education10x, another edtech startup, in February 2022.
Founded in 2019 by Aditya Gupta and Nhu Tran Le Thanh, Schola is a platform that provides a variety of courses in a live, one-on-one class model for children between the ages of 4 and 15. These courses include communication and public speaking, among others.
Schola also focuses on first-generation English speakers, providing them with the real-life practice of spoken English. The startup currently operates in 12 countries, including Vietnam, Thailand, Korea, Japan, Malaysia, and others.
Ravi Bhushan, cofounder and CEO, BrightCHAMPS, said, “We’re thrilled to welcome Schola to the growing BrightCHAMPS family.”
“Given Schola’s profitability and sustainable growth approach with low cash burn, we already know that there is great synergy between the two companies’ operating models. I am confident that with Aditya and Nhu at the forefront, not only will Schola deepen our presence in the 30+ countries we’re already operational in, but will also help us introduce BrightCHAMPS to many other parts of the world,” added Bhushan.
Aditya Gupta, cofounder and CEO, Schola, said, “We hope that the combination of BrightCHAMPS’ brand equity and our subject-matter expertise will help Schola lead the world in the communications live-learning space. We look forward to expanding our presence beyond the 12 countries we are currently operational in the months to come.”
Founded in 2020 by Bhushan, BrightCHAMPS offers certificate courses around real-life skills such as coding, creative thinking and social collaboration to K-12 students.
The startup’s valuation reached $500 Mn within a year of its inception when it raised $63 Mn in November last year from marquee investors such as Premji Invest, GSV Ventures, Binny Bansal, 021 Capital and BEENEXT. BrightCHAMPS is currently valued at $650 Mn.
Schola’s acquisition also plays a role in BrightCHAMPS’ international expansion plans; Bhushan said back in November 2021 that the edtech soonicorn was looking to expand overseas and Schola already operates in 12 countries.
The startup claims to have more than 300K students and more than a thousand teachers on its platform. Earlier this year, BrightCHAMPS made headlines when it became the first edtech startup in India to accept cryptocurrency payments.
Edtech startups in general have had a rough 2022 so far. Amid a funding crunch, there have been layoffs and closures within the edtech space. Two edtech startups, Crejo.Fun and Udayy have shut shop, while startups in the edtech space have laid off almost 4,100 employees, according to Inc42’s Indian Startup Layoff Tracker.
