Powered By Inc42 Brandlabs

Brandlabs

The brand solutions arm of Inc42 Media combining Inc42’s creative and editorial strengths to create compelling stories for brands partnering with it.

Ireland’s Olive Group Acquires Kerala-Based Edtech SaaS Platform Ofabee

SUMMARY

Ofabee was incubated under Kerala Startup Mission and raised funding from KSUM and CIIE

The acquisition will see Ofabee merge with Olive Group’s Mykademy.com with its headquarters continuing to be in Thiruvananthapuram

Ofabee cofounder Ayyappan Asokan said the acquisition will help build an engaging course delivery platform for tutors and training institutions worldwide

Ireland-based online learning company Olive Group has acquired Thiruvananthapuram-based edtech SaaS platform Ofabee for an undisclosed amount in yet another international acquisition of an Indian enterprise tech startup. 

Founded in 2013 by Ayyappan Asokan and Syamkumar, Ofabee’s SaaS platform enables coaching and training institutes to launch their own apps and websites, and sell courses to students around the world. Ofabee, which is a product of Enfin Technologies that was incubated under Kerala Startup Mission (KSUM), will merge its operations with Olive Group’s Mykademy.com after the acquisition. The merger will also include migration of Ofabee’s customers to the new platform. 

As a part of the acquisition, the entire team of Ofabee will join Mykademy, while continuing to be based in Thiruvananthapuram, according to a spokesperson. 

In the past, Ofabee raised seed funding from KSUM and Center for Innovation Incubation and Entrepreneurship (CIIE), and has signed up with some of the leading educational institutions and a number of tutors across India. 

The company said it had been in talks with multiple investors for Pre-Series A funding, when the merger talks solidified.  Besides the cofounders Asokan and Syamkumar, Ofabee’s leadership team includes Sajan Christudas, who is the CTO of Enfin Technologies, and Vishnu Narayanan who is the company’s offshore operations director.

“We remain committed as a team towards our joint vision. Together, we can further accelerate the growth of Mykademy as we continue to enhance and build an engaging course delivery platform for the tutors and training institutions,” said Ofabee cofounder Asokan.

The acquisition will see Dublin-based Mykademy create robust online-first training institutes with more features and tutors worldwide. The company primarily focusses on learning platforms, digitisation and training solutions for corporates and educational institutions across the globe and has a sizeable presence in Europe. Over 14 years, it claims to have worked with over 25,000 clients. 

Kailas Satheesan, CFO and CEO of Olive Group’s India unit, said, “We are excited to announce our entry into the Indian training and coaching industry through the acquisition of Ofabee. We will be able to leverage their product and resources and serve Mykademy better.”

The acquisition is the first among five planned M&A deals that Olive Group expects to make this year, according to Brendan Kavanagh, the company’s founder and chief executive

“As we make investments that focus on developing and nurturing the training ecosystem, we are also committed to making our platform, Mykademy, easier to navigate for our customers. I welcome the Ofabee team to Olive Group as we continue our efforts to provide deeper value to our customers,” Kavanagh said. 

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Ireland’s Olive Group Acquires Kerala-Based Edtech SaaS Platform Ofabee-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Ireland’s Olive Group Acquires Kerala-Based Edtech SaaS Platform Ofabee-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Ireland’s Olive Group Acquires Kerala-Based Edtech SaaS Platform Ofabee-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Ireland’s Olive Group Acquires Kerala-Based Edtech SaaS Platform Ofabee-Inc42 Media
Ireland’s Olive Group Acquires Kerala-Based Edtech SaaS Platform Ofabee-Inc42 Media
You’re in Good company