Education10x is a New Delhi-based financial education platform with presence across 20 countries
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 cofounders and employees of Education10x has onboarded BrightChamps and they will continue to run Education 10x
Goa-based essential skill learning edtech startup BrightChamps has marked its first acquisition since its inception in 2020 by acquiring edtech startup Education10x. The New Delhi-based edtech startup Education10x is a financial education platform for children.
BrightChamps has acquired Education10x in a cash and stock deal. 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.
The announcement comes a couple of months after BrightChamps raised $63 Mn 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 Mn valuation.
Talking about the acquisition, Education10x is an 18 month old startup which was founded by IIM Calcutta alumni Gyan Tiwari, Prasanna N Muley, and Bhavishya Chaurasia. Education10x claims to have developed the world’s first gamified finance program for children and teenagers between the age group of 8 to 16 years. The startup’s interactive curriculum offers a live one-on-one class model by finance professionals with CA and MBA degrees.
The startup (Education10x) at present offers teaching lessons to students across 20 countries including Saudi Arabia, Kuwait, US, Canada, UAE, Qatar among others. As part of the deal, all the cofounders and employees of Education10x has onboarded BrightChamps and they will continue to run Education10x.
Founded by Ravi Bhushan in 2020, BrightChamps is one of the handful of Indian startups that have become a $500 Mn valuation startup within a year of inception. The startup follows a unique model where it offers a school-supportive curriculum to students from various boards.
The certificate-based classes are centered around coding, creative thinking, social collaboration, Industry 4.0 concepts and scientific experiments. They are divided into three sections — grade 1-3, 3-6 and 7-12 — offering a mix of next-gen skills in the local languages of the students.
During the funding announcement, Bhushan while speaking to Inc42 said that the startup will also host olympiads, launch a peer-to-peer experience product vertical, and add financial literacy programs to the curriculum. Acquisition of Education10X is in line with the addition of financial literacy programs which Bhusham had earlier spoken about.
The startup is aggressively hiring to expand its team across functions such as product, technology, growth, content, operations, sales, marketing and business development. BrightChamps operates globally with key focus in the US, Canada, Middleeast, and Southeast Asia.
