As part of the deal, all the six cofounders of Applied Roots will join Scaler and lead varied projects
Applied Roots last year collaborated with University of Hyderabad to offer online diploma courses in artificial intelligence and machine learning
The acquisition comes on the heels of Scaler raising $55 Mn in its Series B at $710 Mn valuation
Bengaluru-based edtech startup Scaler has acquired an online learning platform Applied Roots for $50 Mn. As a part of the acquisition, all the six cofounders of Applied Roots will join Scaler and lead varied projects.
Scaler further announced that a majority of Applied Roots will work with the Scaler DS&ML business vertical.
Founded in 2017 by six cofounders Srikanth Varma Chekuri, Murali Krishna Varri, Naveen Reddy Bade, Brahma Reddy, Srinivas Reddy and Satish Atcha, Applied Roots is a Hyderabad- based learning platform that offers diploma courses in artificial intelligence, machine learning, applied gate course, coding track and government test preparation, among others.
The bootstrapped learning platform last year collaborated with University of Hyderabad to offer online diploma courses in artificial intelligence and machine learning. Applied Roots claims to have served more than 40,000 learners in the last four years.
Post the acquisition, few team members of Applied Roots will also be helping Scaler’s team to build content vertical – Scaler Topics – a technopedia and curated interactive space for aspiring software professionals to learn and master the right tech skills.
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This acquisition comes on the back of Scaler raising its Series B round worth $55 Mn led by Lightrock India, Sequoia Capital, and US-based hedge fund Tiger Global at valuation of $710 Mn. The startup has raised $20 Mn in its Series A in 2020 from Sequoia Capital and Tiger Global.
This is Scaler’s third acquisition since its inception in 2019. The startup in 2021 had acquired Coding Minutes and Coding Elements –high demand coding space-focused startups.
Founded by Anshuman Singh and Abhimanyu Saxena, Scaler claims to offer high-quality technical education. According to the startup, Scaler Academý students are taught by tech leaders and subject matter experts from various tech giants, including Google, Facebook, Intuit, Microsoft, Amazon, Hotstar, and Snapdeal.
The upskilling edtech startup earlier last month had announced that it will be deploying the fresh capital towards expanding into foreign soil, launching new products, making strategic acquisitions and hiring aggressively.
Scaler competes against the likes of edtech unicorn upGrad, Udemy, Unacademy, BrightChamps, among others.
According to an Inc42 report, edtech startups raised $4.7 Bn in 165 deals to emerge as the third most-funded sector in 2021. The segment was only behind ecommerce, with $10.7 Bn and fintech with $8 Bn funding received in the year 2021.