Edtech startup BrightChamps raises $63 million at valuation of $500 million

Indian edtech firms have raised $5.77 billion in funding in 2021 till October this year

Edtech startup BrightChamps has raised $63 million at a valuation of nearly $500 million. The investors in the round include multiple marquee names across geographies such as Premji Invest, US-based GSV Ventures, Flipkart cofounder Binny Bansal-backed 021 Capital and Singapore-based venture fund Beenext.

Founded by Ravi Bhushan in July 2020, BrightChamps looks to empower 6-to-16-year-olds across the globe with next-generation life skills through a learning programme that complements the school curriculum.

In a press statement, Ravi Bhushan, the founder and CEO at BrightChamps, said, "We felt that there is an immense need for a unique curriculum which can fill the gaps in the current education system while aligning with a child's learning abilities as per their necessity of the age. We have been stunned with the love we have received so far from parents and students across different countries."

The company earlier raised funds from GSV Ventures and has built its presence in South-East Asian geography. With the new funding, the edtech startup plans to expand to other relevant verticals by launching more courses and will also look to acquire new companies in adjacent markets to expand its footprint.

Indian edtech firms have raised $5.77 billion in funding in 2021 till October this year, while it raised $10.14 billion in 2020 according to data by analytics firm Tracxn.