Eupheus Learning, a business-to-business (B2B) Edtech company, has raised $10 million in Series C funding from Lightrock India, a global private equity platform.
According to a press statement, the company plans to use the proceeds to scale up the business by expanding its product portfolio and entering new markets and pursue acquisitions.
Eupheus Learning is a school-focused distribution platform having a curriculum-focused approach. It provides curriculum, tools, and more. The courses are offered for subjects like English, mathematics, EVS etc. With its large catalogue of curricular and supplemental offerings, the company works with more than 5,500 schools in India and the Middle East.
Established in June 2017 by Sarvesh Shrivastava, Ved Prakash Khatri, and Amit Kapoor, the Delhi-based startup has recently launched 2 mega competitions, "National Coding Competition, Code2Win" and "Olympiad through ISFO," which will have a combined total registration of close to 1 million students in India.
Speaking about the fundraise, Sarvesh Shrivastava, Co-founder and Managing Director, Eupheus Learning said,
"We are very excited to partner with Lightrock in our vision to become the largest player in the K12 space. With the evolution of online teaching and the impact of COVID-19 on the education sector, we at Eupheus Learning are assisting schools to adopt a hybrid form of teaching and learning experience by providing 21st-century learning solutions to students. We look forward to a fruitful association with Lightrock to offer seamless in class and at home learning solutions."
With the introduction of National Education Policy 2020, the company said, there has been improved adoption and demand from schools for new-age solutions.
Sixth Sense Ventures was the first institutional investor which funded the startup through its second fund Sixth Sense India Opportunities II. It has a significant minority stake in the company. The startup has also received funding from Yuj Kutumb, backed by the family office of Sid Yog who is a Founding Partner of The Xander Group Inc.
Divya Venkatavaraghavan, Principal, Lightrock has said,
"The pandemic has only amplified our thesis that schools continue to remain core to advancing children’s lives through education. The unprecedented disruption of a classroom due to pandemic-driven digitalisation presents a rare opportunity for schools to adopt hybrid learning models and improve learning outcomes for students. As schools engage in this complex systemic endeavour, Eupheus - with its “curriculum-focused” and “classroom-first” approach - is best-placed to help them unlock their potential for transformation as the trusted partner."
The company claims to have partnered with over 13K schools, covering 4 million students with a pan India presence across 80 cities and a team size of 175 members. In addition to this, it has also signed partnerships with international edtech platforms like ETS, Sanko, World Book and Fiction Express among others to help its schools to enhance student's reading and writing abilities, STEM/STEAM and English language learning skills among others.
Eupheus Learning had raised $4.3 million in Series B funding led by Kuwait-based United Education Company (UEC) and Al Rayan Holding Company for domestic and international expansion in February this year.