Indian test prep firm Aakash sets up edtech unit to cash in on online coaching boom

Test preparation company Aakash Educational Services Ltd (AESL) Wednesday announced setting up of a new edtech entity to capture a bigger pie of the digital coaching market that is fast expanding due to the disruptions caused by the COVID-19 pandemic in the recent months.

The company, which seeks to get listed in the stock market in the future, said it has made coaching firm Meritnation, its recent acquisition, part of the new entity named Aakash Edutech Pvt Ltd (AEPL). This will “accelerate growth in its digital Edtech business”, the company said.

“The 100% wholly-owned subsidiary, AEPL will comprise Aakash Digital and Meritnation, providing a cutting-edge online platform for students to access high-quality live test preparation classes and live tuitions combined with self-study materials enabling better students’ outcomes,” said AESL headquartered in Delhi.

“The creation of Aakash Edutech Pvt. Ltd. will help significantly accelerate the growth of AESL’s digital business…The new subsidiary will further strengthen AESL’s competitive positioning not only in digital education but will also further enable its offline student offering across its 200 classroom centres, teaching over 2,50,000 students,’ Aakash Chaudhry, Director and CEO of Aakash Educational Services.

Aakash Educational Services has been a leading name in the coaching industry catering to medical and engineering aspirants as well as high school students. In recent years, it has offered online coaching firms but there are bigger players in the space and new edtech startups are testing huge traction from students of late.

“AESL has seen significant growth in the last decade, becoming one of the largest education companies in the country. The formation of Aakash Edutech Pvt. Ltd. will aid our push into newer areas and cutting-edge education technology, enabling us to deliver long-term value to our students, employees, investors and other stakeholders,” Jaykumar said.

In October 2019, AESL had partnered with Blackstone Inc. to create India’s largest digitally enabled, omni-channel test preparation company, by growing its large digital business to supplement its strong physical network of 200 centres.

This article was first published on livemint.com.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.