One-year-old edtech startup BrightChamps is now valued at half a billion, after $63 million round led by Premji Invests and Flipkart's Binny Bansal
Nov 9, 2021, 08:12 IST
Edtech startup BrightChamps on Monday announced it has raised $63 million in fresh funding, reaching a valuation of nearly $500 million in little over a year.
Premji Invest, the investment office of Wipro Founder Azim Premji, US-based GSV Ventures, Flipkart co-founder Binny Bansal-backed 021 Capital and Singapore-based venture fund Beenext participated in the round.
Founded by Ravi Bhushan in July last year, the live learning platform BrightChamps offers next-generation life skills such as programming, artificial intelligence (AI), design thinking and financial literacy for kids in the six-15 age group.
“We felt that there is an immense need for a unique curriculum which can fill the gaps in the current education system while aligning with a child’s learning abilities as per their necessity of the age,” Bhushan said.
The startup said it has managed to reach over 10 countries with an outstanding booking run rate.
Currently, over 100,000 registered students are spending more than 6 million minutes of live learning every month on the platform.
“Brightchamps is well-positioned to emerge as a global leader in the edtech industry. Their meticulously-curated curriculum and blended approach are designed to spark scientific curiosity and exploration in early learners, allowing them to master new-age skills at their own pace,” said Bansal.
The startup plans to utilise the funds to hire across major functions such as product, technology, operations and more.
“In little over a year, Brightchamps has established itself as one of the fastest growing edtech companies in the markets that it serves in,” said TK Kurien, ex-CEO of Wipro and managing partner at Premji Invest.
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Premji Invest, the investment office of Wipro Founder Azim Premji, US-based GSV Ventures, Flipkart co-founder Binny Bansal-backed 021 Capital and Singapore-based venture fund Beenext participated in the round.
Founded by Ravi Bhushan in July last year, the live learning platform BrightChamps offers next-generation life skills such as programming, artificial intelligence (AI), design thinking and financial literacy for kids in the six-15 age group.
“We felt that there is an immense need for a unique curriculum which can fill the gaps in the current education system while aligning with a child’s learning abilities as per their necessity of the age,” Bhushan said.
The startup said it has managed to reach over 10 countries with an outstanding booking run rate.
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“Brightchamps is well-positioned to emerge as a global leader in the edtech industry. Their meticulously-curated curriculum and blended approach are designed to spark scientific curiosity and exploration in early learners, allowing them to master new-age skills at their own pace,” said Bansal.
The startup plans to utilise the funds to hire across major functions such as product, technology, operations and more.
“In little over a year, Brightchamps has established itself as one of the fastest growing edtech companies in the markets that it serves in,” said TK Kurien, ex-CEO of Wipro and managing partner at Premji Invest.
SEE ALSO
Looking to subscribe to Paytm’s IPO? Analysts raise caution
Advertisement
Paytm IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money
Fino Payments Bank IPO allotment tomorrow, investors had oversubscribed by over 2 times