Mumbai-based edtech startup Lead School has acquired student assessment startup QuizNext for an undisclosed amount.
“Lead School is committed to providing complete, seamless schooling irrespective of whether schools are physically open or shut. Integration of QuizNext into our platform is another step in this direction,” said Smita Deorah, cofounder and COO at Lead School.
In August this year, Lead School had raised $28 Mn in Series C funding round led by WestBridge Capital.
“We look forward to joining hands with Lead School and fulfilling our vision of making learning engaging and effective. With an integrated system like Lead, Quiznext can become more effective in serving students’ practice needs,” said Guruprasad Holla, cofounder and CEO at QuizNext. The news was first reported by ET.
Founded in 2012 by Mehta and Smita Deorah, Lead School offers integrated curriculum and technology solutions to affordable private schools.
The company claims to have grown its network of schools from 150 to 800 in the past one year, and expects to maintain the same growth momentum in 2020 as the pandemic has strengthened its position in the market with schools are looking for more options to digitise.
The latest Inc42 Plus report on the edtech sector has estimated that startups had enrolled around 335 Mn students — including overlap in users — by the end of 2019, even before the boom in 2020.
And now that online learning is slowly becoming a default mode of learning, the average Indian household is also expected to shell out more for edtech courses and services, not just for school fees. Beyond the cost of learning materials and courses is the cost of access — high-end devices, speedy broadband internet, and value-added subscriptions to edtech services.
The market size of edtech in India is estimated to grow 3.7x in the next five years, from $2.8 Bn (2020) to $10.4 Bn (2025).