The company, which was founded in 2020, ran a platform to teach co-curricular skills to kids aged 6-16 in India until the beginning of 2023. This B2C model now only makes up for 10 percent of its India revenue.
While domain expert tutors remain among the most in-demand professionals, there is a substantial requirement for content creators and techies.
The deal will help Brightchamps in facilitating new compliance for schools under the National Education Policy (NEP), which demands teaching students next-generation life skills
The company, which was last valued at about $650 million when it raised about $63 million in November 2021 in a round led by Premji Invest, reported a net loss of Rs 98.6 crore in FY22, which was its first full year of operations.
Schola’s acquisition will help Brightchamps in adding English speaking and communications vertical, a segment that will help it scale faster in its key markets--Southeast Asian countries such as Vietnam, Thailand and Indonesia.
The crypto-as-payment functionality is already live on the Brightchamps platform across all geographies after thorough testing and security checks, said the company.
After a brief period of low funding activity, this week saw multiple startups raise funds in late-stage rounds. The week also saw Zomato announce its plans to invest across multiple Indian startups.
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.
The edtech startup has reached a valuation of nearly half a billion dollars in little over a year, a statement said.