It is estimated that Classplus is worth approximately $600 million after raising $70 million in funding from investors. Classplus is a four-year-old startup that allows teachers to sell their services online and has raised a total of $70 million in funding. An overall shift is taking place in India’s education technology sector, with companies expanding their partnerships with traditional schools and establishing offline centres as they adjust their strategies to the post-pandemic world.
Alpha Wave Global and Tiger Global led a new round of funding for Classplus, which raised $70 million and was valued at approximately $600 million. The company is now valued at approximately $600 million.
Despite the fact that it was only eight months ago, the company had amassed $65 million.
Founded by Mukul Rustagi and Bhaswat Agarwal in 2018, Classplus is a software platform that enables teachers, authors, and other content creators to establish an online presence, digitise their offline tuition centres, and sell their courses online.
According to the company, it has been adopted by teachers who serve students in kindergarten through grade 12, as well as by those who provide exam preparation services to students. According to the company, the platform has also attracted non-academic content creators from a variety of fields, including fitness, lifestyle, personal finance, language training, and programming.
Edtech companies have increased their collaborations with traditional schools and educational institutions as a result of the Covid pandemic, in order to ensure that their online instruction is not interrupted.
The hybrid (online and offline) learning model, according to Meeta Sengupta, an education policy expert, is effective because it allows students to learn at their own pace while also developing their social skills while still in school.
What is the responsibility of whom: Last week, the Maharashtra Department of School Education and Sports announced a partnership with Khan Academy to assist students in Classes 1-10 in government schools with learning Marathi mathematics.
- For the past two years, Stemrobo has partnered with more than 2,000 schools in India to provide in-class education as well as one-on-one coding sessions in artificial intelligence, robotics, and machine learning to students.
- Education technology unicorn Lead provides educational materials to more than 4,000 schools in more than 400 cities, serving approximately 1.6 million students and 25,000 teachers.
Omnichannel: Some edtech companies have gone so far as to establish offline centres in order to embrace the omnichannel model.
- Unacademy opened its first ‘experience store’ in Delhi earlier this month, with plans to open many more in the coming months, according to the company’s website. It was stated that these stores would cater to new users who were interested in enrolling in Unacademy courses, but it was also stated that existing Unacademy students would be able to meet their instructors at these facilities.
- Aside from online presence, Byju’s has recently announced plans to expand its offline presence with the launch of “Byju’s Tuition Center.” As of 2021, the company has opened 80 offline locations in 23 cities, and it expects to grow to 500 locations in 200 cities by the end of this year.
Other Done Deals:
A $40 million funding round led by Novo Holdings and HealthQuad, with participation from existing investor MassMutual Ventures, was announced by Qure.ai (Qure). Qure is a self-driving car company that uses artificial intelligence to help people get around.
- With the help of Lightrock India, EdgeGrid, a B2B enterprise clean-tech platform, raised $6 million in a round that also included Theia Ventures and a number of other angel investors. It intends to use the funds to upgrade its technology, expand its team, and hire more employees.
- Paperplane, an artificial intelligence-first digital clinic, announced on Tuesday that it had raised Rs 3 crore in a funding round led by Cornerstone Venture Partners Fund. Several existing investors, including LetsVenture and 100X.VC, as well as a number of angel investors, took part in the funding round.
- A platform for career development and upskilling that is powered by artificial intelligence Earlier this year, Seekho raised $3 million in a round led by Sequoia Surge and featuring participation from the JM Financial Group family office, LetsVenture, Trica, Super Morpheus, and Yuj Ventures, among other investors.
Published By: JAINAM SHETH
Edited By : KRITIKA KASHYAP