Edtech tech startup BrightChamps exits stealth mode with $ 63 million funding – TechCrunch

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BrightChamps, an Indian educational technology startup that is trying to close the learning gap left by K12 schools, said Monday that it has raised $ 51 million in a new round of funding and $ 63 million to date since launching a year ago. year as the Goa-based company. seeks to expand its presence in more than 10 countries.

The startup, which was valued at nearly $ 500 million in the new funding round led by Premji Invest, currently teaches kids programming and other skills in more than 10 markets, including Southeast Asia, the US and Canada. Brightchamps co-founder and CEO Ravi Bhushan told TechCrunch in an interview.

Bhushan, who was homeschooled and previously served as the chief technology officer at property portal PropTiger, said schools around the world are not teaching children several important skills they need to excel in modern times. “It is not an Indian problem. Schools around the world are teaching children how to change the style of text in Microsoft Word in the name of technology, ”he said.

The startup, which has accumulated more than 100,000 registered students and achieved profitability, is “building a ‘weapon of mass instruction’ and is leading the disruptive wave that will make India one of the largest exporters of transformative digital education,” he said. Deborah. Quazo, managing partner of GSV Ventures, in a statement. GSV led the startup’s previous round, TechCrunch reported.

A slide from a previous BrightChamps investor deck obtained by TechCrunch.

Bhushan said the startup’s growth has been completely organic so far and it hasn’t used the money raised from investors. “We are growing solely on the money we have earned from our clients,” he said.

BrightChamps has been one of the most talked about startups in India in the last year and has already been approached by one of the country’s largest educational technology giants with an offer to buy, TechCrunch learned.

The startup, which first spoke out last week after TechCrunch approached it to confirm the funding round, said it intended to talk about its offerings and the previous funding round last year, but chose not to. because I didn’t want to celebrate a milestone. at a time when his home country was trying to fight the pandemic.

Bhushan declined to comment on any takeover bids BrightChamps has received, but said it is building the startup with a very long-term vision and is not looking to make short-term profits.

“In less than a year after its inception, Brightchamps has established itself as one of the fastest growing education technology companies in the markets it serves. By leveraging human resources globally to deliver personalized experiences, coupled with a unique ability to hyper-differentiate learning pathways, Brightchamps is on the way to demonstrating that the power of data and learning can be combined for differentiated results. ” said T Kurien, managing partner at Premji Invest in a statement.

This is a developing story. More to follow …

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