Indore-based assessment firm National Olympiad Foundation has acquired Jaipur-headquartered ed-tech startup Edurer Knowledge Labs Pvt. Ltd. National Olympiad co-founder and chief executive officer Sandesh Vyas said the acquisition was a strategic decision. His organization was working on a learning technology platform for K-12 education. Vyas added that the National Olympiad would also file for patents in the segment.
Endurer CEO Anjali Bansiwal said the National Olympiad is one of the few companies in India that are addressing educational issues at the grassroots level.
The statement didn’t disclose the financial details of the deal. However, YourStory reported that the startup was acquired in a cash-and-equity deal.
As part of the deal, Bansiwal will join National Olympiad as its chief marketing officer, while co-founder Atul Dubey will participate as chief technology officer.
Endurer offers educational organizations a software-as-a-service-based platform for personalized and gamified learning experiences for students. The company claims its pilot tests have increased productivity and engagement by 30% and 40%, respectively. Founded as a research-centered startup in 2016, Endurer was selected by the Rajasthan government’s information technology department for mentorship in 2017.
Ed-tech deals
The ed-tech segment saw heavy activity last year. Many startups and investment firms want to capitalize on educational needs across various segments and fill gaps in India’s educational system.
In March, quiz-based learning startup champ said it had raised an undisclosed amount in a pre-Series A funding round led by Raju Shukla, chief executive officer at Singapore-based Ariana Investment Management. The Gurugram-based startup planned to use the funding to upgrade its technological infrastructure and diversify into more subjects and classes across various curricula.
The most significant recipient of investor funding, however, is the Bengaluru-based Think and Learn Pvt. Ltd, which in December last year raised $540 million (around Rs 3,855 crore then) in a round led by South African tech conglomerate Naspers. Canada Pension Plan Investment Board contributed significantly to the massive funding round.