[Funding alert] Edtech startup Eupheus Learning raises $4.1M in Series B round from Kuwait-based UEC, Al Rayan Holding Company
Eupheus Learning, a Delhi-based edtech startup, on Monday said it raised $4.1 million in Series B funding round led by Kuwait-based United Education Company (UEC) and Al Rayan Holding Company (ARHC), in which UEC holds a majority stake.
According to an official statement, the B2B startup will use the new capital for organic expansion in domestic markets, especially in home learning solutions, leveraging on creating depth in customer acquisition through its school ecosystem.
"International expansion will be a focus area, starting with the 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 through acquisitions," it stated.
In the second half of 2020, Eupheus launched its first home learning solution — Learn2Code — a gamified solution for coding in partnership with leading Canadian coding company RoboGarden. It claims to have onboarded over 700 schools and 180,000 students for the initiative in five months.
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.
Speaking about the investment, Eupheus Founder Sarvesh Shrivastava said,
“Eupheus has established a strong presence in the B2B edtech space in India, and 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 focussed on imparting 21st-century skills in alignment with the existing curricular requirements – the approach has been well appreciated by our partner schools, and has tremendous opportunity to expand across the ecosystem of 30,000 schools in India,” he added.
Shaikha Dana Nasser Al-Sabah, Chairperson – UEC, commented, saying,
“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.”
Edited by Suman Singh