BrightChmaps, a next-generation life skills learning platform for kids, has announced the acquisition of Education10x, a financial literacy education platform for children, in a cash & stock deal, marking its first acquisition since its inception.
The acquisition is in line with BrightCHAMPS' vision of providing a one-stop solution for future-ready life skills to children in the K-12 segment.
As part of the deal, all the co founders and employees of Education10x has on boarded BrightChamps and they will continue to run Education 10x.
Launched in 2021 by IIM-Calcutta alumni Gyan Tiwari, Prasanna N Muley and Bhavishya Chaurasia, Education 10x has developed the world's first gamified finance program for young children and teens from 8 to 16 years of age. The program's interactive curriculum is delivered in a live, 1-on-1 class model by finance professionals who hold CA and MBA degrees.
Announcing the acquisition, Founder and CEO of BrightChamps, Ravi Bhushan, said, "At BrightCHAMPS, our aim has always been to equip children with all the next-generation future-ready skills which they will need to lead fulfilled, successful lives. We believe financial literacy is one of the best gifts that can be provided to the children. Aware and progressive parents across the globe have already started realizing its importance and we are already seeing an amazing early interest from people across the world. With that in mind, we're delighted to welcome Education10x, with its demonstrable track record of achieving phenomenal learning outcomes within the financial literacy for children's space, to the BrightCHAMPS family."
The start-up currently offers classes to students from 20 countries, including Saudi Arabia, Kuwait, US, Canada, UAE, Qatar, Bahrain, and Oman.
BrightChamps was founded in July 2020 by Ravi Bhushan, aims to empower kids across the globe in the age group of 6 to 16 with important next-generation life skills through its adeptly crafted live learning program. The Goa-based start-up teaches kids programming, artificial intelligence, and others and is currently operational in over 10 countries including several in Southeast Asia and the Middle East.
Speaking about the company, Co-founder of Education10x, Gyan Tiwari, said,"Education10x was started with the mission of teaching the critical life skill of financial literacy to children overlooked by current education systems. Over the last 18 months, we've seen tremendous response from parents and children globally and now with the support of BrightChamps, we will be further investing heavily in global expansion, launching new courses in cryptocurrency and entrepreneurship, hiring across verticals and building products that can provide an even more sophisticated experience for children."
BrightChamps believes in nurturing the hidden potential which kids innately have. Its adeptly crafted programs complement the school curriculum to fuel the latent talents of the children and groom them towards future success in alignment with their natural abilities and inclinations.
The latest development comes a couple of months after BrightChamps raised $63 million in a funding round led by Premji Invest, GSV Ventures, Binny Bansal, 021 Capital, and BEENEXT. The round helped the EdTech startup to become a soonicorn with a $500 million valuation.