Edtech firm BrightCHAMPS acquires Metamorphosis Edu
As part of the agreement, Metamorphosis Founder Pavan Allena will lead BrightCHAMPS' B2B vertical under CFO Amit Kumar to enable NEP compliance for schools.
Thursday April 27, 2023,
2 min Read
Edtech firmhas acquired ISB-incubated Metamorphosis Edu in a cash-and stock-deal. The terms of the current transaction, including the deal size, are undisclosed.
This acquisition would aid BrightCHAMPS in facilitating compliance for schools under the National Education Policy (NEP), which demands an expert-ratified curriculum in next-gen skills.
As part of the agreement, Metamorphosis Founder Pavan Allena will lead BrightCHAMPS' B2B vertical under Chief Financial Officer Amit Kumar to enable NEP-compliance for schools across all the next-gen life skills the company offers, the companies said in a statement.
“Metamorphosis is the perfect partner to help us achieve this goal of substantially widening access to our curriculum at lower price points through partnerships with schools,” said Ravi Bhushan, Founder and CEO of BrightCHAMPS.
The New India Literacy Programme, in alignment with NEP, emphasises the need for today’s learners to be equipped with critical life and vocational skills.
Since its inception in 2020, Metamorphosis Edu has been offering entrepreneurship courses to young students.
The partnership will entail the setting up of BrightCHAMPS Next-Gen Labs within schools and the training of teachers by industry experts in a curriculum vetted by an independent, self-regulatory board.
“With the might of the 3,000-people-strong BrightCHAMPS team thrown behind us, we will be able to cater to school requirements based on different learning needs faster, at scale, and more cost-effectively. All of which will accelerate access, which is the ultimate goal,” said Allena of Metamorphosis.
This is BrightCHAMPS’ third acquisition. Last August, it acquired Singapore-headquartered Schola, a live-learning platform for children for learning communication skills and English, in a $15-million cash and stock deal.
Launched in 2020, BrightCHAMPS is currently valued at $650 million, after raising $63 million from marquee investors.
The edtech startup, operational in over 30 countries, aims to bridge the gap between school education and children’s real learning needs. It provides next-gen life skills learning to students from the age of 6 to 16 in coding, financial literacy, robotics, and communications.
Edited by Swetha Kannan