Eupheus Learning raises USD 4.1 Million in Series B Round led by United Education Company and Al Rayan Holding Company
Bengaluru: Eupheus Learning – a Delhi based leadingB2B EdTech company has raised USD 4.1 Million in Series B funding round. Theround is led by United Education Company (UEC); Kuwait’s leading company in the Education sector and Al Rayan Holding Company (ARHC)in which UEC holds a majority stake;offering different curriculum to cater to the Kuwait’s markets diverse demographic composition.
Eupheus is the largest outreach platform for schoolswith an ecosystem of 13,000 schools, driving partnerships with 5000 schools covering4Million students. It is the only company in the Ed-tech space to turn profitable within 21 months of its operations with revenues of INR 72 Crores in FY 19-20. Eupheus has a pan India presence across 80 cities with a strong team of 175 personnel.
With the mission to be the leading partner for schoolsto impart21st-century skills to students, Eupheus Learning was founded in June 2017 by Sarvesh Shrivastava, Ved Prakash Khatri, and Amit Kapoor.Eupheus’ diverse solutions range across multiple pedagogies from core curriculum subjects to supplemental learning to at-home solutions, driven by exclusive partnerships with international players like ETS, Sanako, World Book, Fiction Express, etc.
Eupheus will use the new capital for organic expansionin domestic markets largely in Home learning solutions leveraging on creating depthin customer acquisition through its school ecosystem. International expansion will be a focus area starting with Middle East and foraying into other markets like Sri Lanka and Bangladesh.The company will also be pursuing inorganic growth opportunities in the EdTech segment thru acquisitions.
In the second half of 2020, Eupheus launched its first Home learning solution – Learn2Code, a gamified solution forcoding in partnership with leading Canadian coding company, RoboGarden. Learn2Code saw an encouraging response with more than 700 schools and 180,000 students’ onboarding for the initiative in a span of just five months.
Shaikha Dana Nasser Al-Sabah, Chairperson – UEC, said, “We are excited to partner with Eupheus Team as they continue their journey in fast-growing EdTech market with their innovative and differentiated offerings. We see a huge opportunity in utilising their offerings to improve learning outcomes across our network of schools in the Middle East. There is a lack of a School focused Distribution platform and in a short span Eupheus has established itself as the first choice for EdTech companies to partner with and reach out to a large network of schools. We feel that the omnichannel approach of Eupheus is the way forward to build a scalable profitable model in the EdTech space.”
The company targets reaching 10 million kids in India through its curriculum and specially curated educational offerings in Kinesthetic learning, Reading enhancement, STEM/STEAM, and English language learning via exclusive tie-ups with award-winning EdTech companies from across the world. Eupheus Learning was recognised by Economic Times as a “Promising Brand – 2019” and was certified as a “Great Place to Work” for the year 2020-21.
Speaking on the investment, Sarvesh Shrivastava, Founder of Eupheus said, “We are proud to be one of the few profitable companies in the EdTech space in India.We are excited to partner with UEC and ARHC to roll out our solutions across the Middle East and becoming the leading EdTech platform in the region.Eupheus has established a strong presence in the B2B EdTech space in Indiaand we look forward to expanding our geographical presence, increasing our engagement with schools, and bringing more innovative learning solutions to our target markets.We have been focused on imparting 21st Century Skills in alignment with the existing curricular requirements – the approach has been well appreciated by our partnerschools and has tremendous opportunity to expand across ecosystem of 30000 schools in India.”
Sixth Sense Ventures, India’s first domestic consumer centric fund, invested in Mar 2018 and has a significant minority stake in the company. Sixth Sense is the first leading institutional investor in the company betting on education space through its second fund, Sixth Sense India Opportunities II. The company also received funding in Jan 2020 from YujKutumb, backed by the family office of Sid Yog, Founding Partner of a global investment firm, The Xander Group Inc.