Eupheus Learning, a business-to-business (B2B) edtech startup, said it has raised $10 million in a Series C funding from private equity firm Lightrock India.
The Delhi-based startup plans to use the funds to scale faster, expand geographical reach, pursue acquisitions and expand its product portfolio.
Eupheus Learning is a school-focused distribution platform with a classroom-first curriculum approach.
With the introduction of National Education Policy (NEP) 2020, the startup said, there has been improved adoption and demand from schools for new-age solutions. With its large catalogue of curricular and supplemental offerings, Eupheus Learning works with more than 5,500 schools in India and the Middle-East.
“With the evolution of online teaching and the impact of covid-19 on the education sector, we at Eupheus Learning are assisting schools to adopt a hybrid form of teaching and learning experience by providing 21st century learning solutions to students. We look forward to a fruitful association with Lightrock to offer seamless in class and at home learning solutions,” said Sarvesh Shrivastava, co-founder and managing director, Eupheus Learning.
“We also intend to go beyond the current focus on premium schools into the affordable segment. We are exploring acquisitions in the content and technology space. We are also stepping up home learning solutions which will be promoted through schools,” Shrivastava said in an interview.
The startup was founded by Shrivastava, Ved Prakash Khatri and Amit Kapoor in June 2017.
“The pandemic has only amplified our thesis that schools continue to remain core to advancing children’s lives through education. The unprecedented disruption of a classroom due to pandemic-driven digitalisation presents a rare opportunity for schools to adopt hybrid learning models and improve learning outcomes for students. As schools engage in this complex systemic endeavour, Eupheus – with its “curriculum-focused” and “classroom-first” approach – is best-placed to help them unlock their potential for transformation as the trusted partner,” said Divya Venkatavaraghavan, principal, Lightrock.
Sixth Sense Ventures was the first institutional investor in Eupheus, investing through its second fund, Sixth Sense India Opportunities II. It has a significant minority stake in the company. Eupheus has also received funding from Yuj Kutumb, backed by the family office of Sid Yog, founding Partner of The Xander Group Inc.
Earlier this year, it raised $4.1 million in Series B funding led by Kuwait-based United Education Company (UEC) and Al Rayan Holding Company for domestic and international expansion.