Binny Bansal-backed edtech startup BrightCHAMPS has acquired Singapore-based Schola, a live learning platform for children that focuses on communication skills and English, in a $15 million cash and stock deal.
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According to the company’s statement, the acquisition is part of BrightCHAMPS’ vision of becoming the one-stop destination for all next-gen life skills for kids in the K-12 segment.
Founded in 2019 by former senior Facebook executives Aditya Gupta and Nhu Tran Le Thanh, The Singapore-headquartered startup offers live, one-on-one classes to kids aged between 4 to 15 years to help them cultivate skills like communication, confidence-building, public speaking, and leadership, among others.
The startup currently offers classes to students from 12 countries, including Vietnam, Thailand, Korea, Japan, and Malaysia. “The courses have been designed keeping in mind the particular needs of children who are first-generation English speakers,” the statement said.
“Schola’s mission is to build the world’s next generation of confident, creative, and communicative kids. Far too many kids from countries and families that don’t speak English as their first language end up getting overlooked for higher education or career opportunities despite being perfectly qualified in every other way” said Aditya Gupta, Co-founder & CEO of Schola.
BrightCHAMPS, which is currently valued at $650 million, 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 021 Capital.
Founded in 2020 by IIT-Varanasi graduate Ravi Bhushan, BrightCHAMPS claims that it offers 300,000 classes every month across coding, financial literacy, and robotics for children aged between 6 years and 16 years.
Source @Indianstartupnews
