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Ed-tech startups in India are raising fundings across the globe. Even India’s digital learning platform Byjus become a valuable company. With a valuation of $16.5 billion.
Recently, Byjus acquired Epic, a US-based startup for $500 million. From this acquisition, Byjus aims at expanding its presence in the US. Also, allow 2 million teachers to teach and educate Indian students.
What is Epic
Epic is US-based digital learning for kids below 12. The platform allows kids to learn in a unique and fun manner. Epic startup’s main mission is to make kids fall in love with reading.
The company urges to make an engagement between the books and students. Suren Markosian and Kevin are the founders of the ed-tech start-up Epic.
The idea came from their own experiences. When they came to know kids are keener to play video games and watch videos digitally.
But when it comes to studies they will be a mile far away. The kids don’t show any intent to study.
So, they went on to launch an Epic startup. This platform provides books to read digitally. There are almost 40,000 books with over 300 publications.
This platform assists the younger generation to study innovatively and joyfully. So, this startup desires to help a healthy relationship between the book and students. Even parents can also track the student’s performance.
Why Byjus acquired Epic
Byjus is the largest ed-tech startup in India. This platform helping students to give more engaging content. While this startup makes students understand the concept with highly effective animation content.
The main aim of the Byjus is to get students to fall in love with their studies. As the Epic startup has a similar mission and desire to impact the students.
Since both startups have a similar passion and aim. So, Byjus acquired Epic in 2021 July. Therefore, both companies can have high potential and intent to make more valuable content.
In another context, Byjus acquired Epic to expand its presence in the US. Even Byjus also want to expand its services across the globe. This is not the first time Byjus, a company made an acquisition of a US startup.
Earlier, Byjus had acquired the startup called Osmoin 2019. Osmo impacts kids with gamifying content. This makes the kids engage and interact with studies.
Osmo was found in 2013 to revolutionize the kinder garden’s students’ studies. Pramoda Sharma and Jerome Scholler are the founders of Osmo.
Eventually, Byjus made an acquisition on Osmo over $120 million. This acquisition helps Byjus to have a presence in the US market.
Also Read: Success story of Grofers
Mission of Byjus acquired Epic
Byjus already became India’s top educational platform. There are almost 88 million students on its platform. Even 3200 employees are working on the platform.
The company shares a maximum market share in India. Now, the ed-tech startup, Byjus wants to expand its services in foreign as well.
Future school
Even, Byjus has launched Future School in the US. It’s a one-to-one live learning platform. The future school assists kids to learn coding and math.
Karan Baja, CEO of Whitehat jr, presently leading the Future School venture in the US. The platform has its presence in various countries like Brazil, UK, and Indonesia.
Byjus is very keen on investing $1 billion in the US market. Because they are getting good responses from the users.
Even the ed-tech giant, Byjus made $1 billion in revenue in the previous year from the US market. Besides, Byjus’s Osmo has ramped up its valuation up to $727 million.
This is a clear indication that educational startups have great opportunities. The traction toward ed-tech is surging with the adaptation of digitalization. The online education market size is going to be $30 billion by 2030.
Competition
While Byjus is busy acquiring startups for a couple of years.
They are acquiring the startups to strengthen and expand as a platform.
Recently, Byjus made the acquisition of Akash Educational Services over $1 billion. This is the biggest acquisition from Byjus till now.
Previously, it acquired Whitehat jr for $300 million. The platform where it teaches coding skills to kids.
On the other hand, Unacademy ed-tech startup in India is also intensely acquiring startups. Here is the list of Uncademy’s acquisition
- TapChief
- NeoStencil
- Coursavy
- Mastree
- PrepLadder
- CodeChief
- Kreatryx
This platform provides digital learning from classes 6 to 12. Besides it also give online coaching for competitive examinations.
Roman Saini, Hemesh Singh, and Gaurav Munjal are founders of Unacademy. Initially, they started has a youtube channel.
Even Vedantu, another ed-tech startup in India also made the acquisition of both Instasolv and Pedagogy.
The ed-tech startups in India have raised $2.2 billion in 2020. Comparatively very huge amount from the previous year 2019, $553 million.