India-based kid coding startup BrightCHAMPS acquires English-Learning platform Schola for $15M
Edtech startup BrightCHAMPS announces today that it has acquired a Singapore-based live-learning platform for kids, Schola, in a $15 million cash and stock deal.
Last November, BrightCHAMPS raised $51 million with an evaluation of 500 million.
The deal is the company’s second-ever acquisition after it acquired Education10x in February 2022. Education10x focuses on financial literacy courses for kids of age 6-18. Currently, the company is valued at 650 million.
Founded in 2019, Schola provides children between the ages of 4 and 15 with 1-on-1 live classes, including communication and public speaking, etc. Moreover, Schola also focuses on first-generation English speakers, providing them with the real-life practice of spoken English.
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.
Schola’s acquisition also plays a role in BrightCHAMPS’ international expansion plans.
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. According to Inc42’s Indian Startup Layoff Tracker, Crejo.Fun and Udayy have shut shop, while startups in the edtech space have laid off almost 4,100 employees.
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