Woman-led edtech startup, Edurer acquired by NOF
Days after Capacita Connect became the first woman-led startup to give an exit to Rajasthan Angel Innovators’ Network (RAIN), another Rajasthan-based woman-led startup, Edurer was acquired by assessment company, National Olympiad Foundation (NOF).
Jaipur-based Edtech startup, Edurer was acquired by Indore-based assessment company, National Olympiad Foundation (NOF) in a part-cash and part-equity deal. While the company chose not to disclose the cash deal amount, the founders of Edurer apart from getting equity will also join NOF’s top management team.
From left to right: Anjali Bansiwal, Atul Dubey, Amit Patel, Sandesh Vyas and Sachin Yadav.
Edurer was founded as a research-centred startup in 2016 by IIT Jodhpur graduates, Anjali Bansiwal and Atul Dubey. After some time, another co-founder, Sachin Yadav joined the company to look after the operations. NOF conducts Olympiad Exams in schools in various countries and is currently working in the area of marks improvement and adaptive learning using Artificial Intelligence and Machine Learning as tools.
While Atul will join NOF as its CTO, Anjali will join the company as its CMO (Chief Marketing Officer). Sachin will be NOF’s content head.
The startup provides B2B SaaS services that helps educational organisations offer enhanced, personalised and gamified learning experience to their students.
Edurer was among the few top startups to get into the first cohort selected by Department of IT, Govt. of Rajasthan for incubation and mentorship in 2017. Bootstrapped Edurer works in a space where it was competing with bigger startups like RIL backed Embibe and QB365.
Sandesh Vyas, co- founder and CEO of National Olympiad Foundation said, “We are currently working on a learning technology platform in K-12 domain using advanced cognitive architectures, predictive algorithms and smart recommendations hence the acquisition of Edurer was a strategic decision.” He also added that soon they would be filing for patents in the same domain.
Anjali Bansiwal, CEO, Edurer said, “We are quite excited about the acquisition. NOF is one of the few educational companies in our country who are addressing educational issues at the root level. Their domain knowledge will surely be of great use in developing the AI based learning platform.”