Edtech startup BrightCHAMPS acquires Singapore-based Schola for $15 million
Binny Bansal-backed ed-tech startup BrightCHAMPS has acquired Singaporean Schola, a live learning platform for kids that focuses on communication skills and English, in a $15 million cash and stock deal.
According to a company statement, the acquisition is part of BrightCHAMPS’ vision to become a one-stop shop for all next-generation life skills for kids in the K-12 segment.
Founded in 2019 by former Facebook executives Aditya Gupta and Nhu Tran Le Thanh, the Singapore-based startup offers live one-on-one classes for children aged 4 to 15 to help them develop skills such as communication, confidence building, and speaking in public, and management, among others.
The startup currently offers courses to students from 12 countries, including Vietnam, Thailand, Korea, Japan, and Malaysia. “The courses have been designed with the specific needs of first-generation English-speaking children in mind,” the statement said.
“Schola’s mission is to build the next generation of self-confident, creative, and communicative children in the world. Too many children from countries and families who do not speak English as a first language end up being overlooked for higher education or career opportunities despite being perfectly qualified in all other respects,” said Aditya Gupta, Co-Founder, and CEO of Schola.
Currently valued at $650 million, BrightCHAMPS is backed by several marquee angel investors such as US-based GSV Ventures, Singapore-based BEENEXT, Premji Invest, and Flipkart co-founder Binny Bansal backed by 021 Capital.
Founded in 2020 by IIT-Varanasi graduate Ravi Bhushan, BrightCHAMPS claims to offer 300,000 lessons every month in coding, financial literacy, and robotics to children between the ages of 6 and 16.
Also Read:
Related:- 8 Ways to Know If You Have a Great Business Idea 2022
Related:- How To Start A Business When You Have No Money
Related:- 12 Best Books for Entrepreneurs And Small Business Owners 2020
Follow Startupcolleges on Facebook, Instagram, and Twitter, for the latest updates from the startup ecosystem. Subscribe to our YouTube Channel for more entrepreneurship, business, and corporate solution video