Edtech service provider has acquired the quiz-based learning platform in an all-stock transaction, marking another deal announcement in the edtech sector.
The terms of the transaction, including the deal size, were not disclosed by the duo. However, a joint statement by the companies noted that the undisclosed deal was at a “multi-million dollar valuation”.
The Mumbai-based learning platform had secured about $3 million in funding from investors such as Kunal Shah, Abhijit Bose, Lina Ashar, AngelList, and VKG Group. Its most recent valuation was around $6.3 million, according to Tracxn.
Genius Teacher, founded by IIT Bombay graduates—Advitiya Sharma (CEO and Founder), Shashank Pachore, and Ruturaj Atre—was designed to enhance learning in maths, science, and English.
“We worked with Genius Teacher for more than one year and were impressed by their A+ Team and AI Tech capabilities, confident that they will strongly support us in our next phase of growth,” said RCM Reddy, Managing Director and CEO of Schoolnet India.
Schoolnet offers schools its smart-class solutions and an AI-driven app ecosystem to enhance student learning outcomes. The company claims to collaborate with over 50,000 government schools across seven countries, helping more than 25 million students and teachers.
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With this acquisition, Noida-based Schoolnet gains Genius Teacher’s private school market presence, AI-driven teacher and student apps, and aims to extend its reach to over 10,000 private schools by the fiscal year 2026-27.
“We had offers from institutional investors for funding but felt there could be a bigger game to be played by joining forces with Schoolnet,” said Advitiya Sharma, who will join Schoolnet as Chief Growth Officer. Genius Teacher was Sharma’s second startup to get acquired after Housing.com.
Noida-based Schoolnet said it registered a revenue of Rs 429 crore and an EBITDA (earnings before interest, taxes, depreciation, and amortisation, a measure of core operational efficiency) of Rs 69 crore for the fiscal year 2023-24.
India’s edtech sector, which flourished during the pandemic, is now experiencing a reality check with layoffs and funding challenges. Industry experts earlier told YourStory that with investors becoming more cautious, many smaller players may explore mergers and acquisitions.
Earlier on Tuesday, Adda247, a Google-backed edtech firm, revealed its acquisition of Ekagrata Eduserv, a company specialising in chartered accountancy (CA) test preparation. Late last year, Kota-based ALLEN Career Institute acquired Doubtnut, an edtech startup based in Gurugram.
Edited by Jyoti Narayan
