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<keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> acquired online education startup <keyword id="1066163" type="UNKNOWN" weightage="20" keywordseo="Edukart">Edukart</keyword> and absorbed the team of about 50 employees. EduKart's founder Ishan Gupta has joined Paytm as Vice President-Business and will build a seller services ecosystem for merchants on Paytm which will include financing, marketing, packaging and fulfilment services. 
 
The deal involves only employment contract so far. 
 
“There is no cash consideration for the deal, and EduKart is separately in talks for a strategic sale of its assets like brand, website and content with education companies,” Gupta told ET. 
 Paytm founder <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> is one of the first angel investors in Edukart, which was founded in 2011. The startup raised $2 million in funding from cricketer Yuvraj Singh-backed <keyword id="2797838" type="UNKNOWN" weightage="20" keywordseo="YouWeCan-Ventures">YouWeCan Ventures</keyword>, early-stage fund 500 Startups and family office United Finsec. 
 
As per EduKart, it has more than 10,000 paid students on its platform and partnerships with more than 120 course providers. 
 
"We just wanted to grow faster, but as the markhit a funding winter we wanted to be cautious. And we thought the team could do better as part of a larger ecosystem," Gupta told ET. 
 
(Image: Thinkstock)

Paytm buys online education startup Edukart in no cash deal

<keyword id="351" type="PERSON" weightage="80" keywordseo="Yuvraj-Singh">Yuvraj Singh</keyword> means business, whether on or off the field. Online education services marketplace <keyword id="1066163" type="UNKNOWN" weightage="80" keywordseo="Edukart">EduKart</keyword>.com has raised $1 million (about Rs 6.4 crore) in a fresh round of funding led by cricketer Yuvraj Singh's newly-launched <keyword id="6357097" type="COMPANY" weightage="80" keywordseo="venture-capital">venture capital</keyword> fund <keyword id="2797838" type="UNKNOWN" weightage="80" keywordseo="YouWeCan-Ventures">YouWeCan Ventures</keyword> and United Finsec, the family office of the Holostik Group. 
 
The Delhi-based startup will use the proceeds from the latest round of fundraising, which also saw Dave McClure-led seed stage accelerator and fund 500 Startups invest in the venture, to ramp up its team, marketing and technology while bringing more courses and course providers on to the platform. 
 
"India's education industry continues to be an extremely fragmented market. We are hoping to provide students with far greater depth through EduKart," said Ishan Gupta, co-founder and chief executive of the company. 
 The company's existing group of angel investors also participated in the latest round of equity financing. The group includes Vijay Shekhar Sharma, chairman and managing director of mobile commerce and recharge venture Paytm, Patni scions Amit and Arihant Patni, and <keyword id="2913729" type="UNKNOWN" weightage="80" keywordseo="Manish-Kheterpal">Manish Kheterpal</keyword>, the former director of private equity fund Providence Equity Partners. 
 
Till date, EduKart has raised angel funding of about $2 million (Rs 12.8 crore). 
 
Yuvraj Singh said, "Focus on education is also a must in today's cut-throat competitive environment. EduKart can really become your trusted partner in making the right choices." 
According to industry data, India's education sector is pegged at about $60 billion (Rs 3.8 lakh crore). But the total amount of foreign direct investments inflow into the sector stood at just $1.07 billion (Rs 6,848 crore) between April 2000 and January 2015, according to the Department of Industrial Policy and Promotion. 
 Edukart, which was founded in 2011 by the unrelated duo of Stanford Graduate School of Business alumni Ishan Gupta and IIM Kozhikode graduate <keyword id="918804" type="PERSON" weightage="80" keywordseo="Mayank-Gupta">Mayank Gupta</keyword>, is now targeting listing of 10,000 courses and 500 course providers on the marketplace. Mayank Gupta, however, is no longer with the company. 
 
The startup currently has 2,000 courses listed on its platform and it works with over 90 education organisations including coaching centres, universities and institutions such as Indian School of Business and Narsee Monjee Institute of Management Studies. 
"Education spending is on the rise among the tech-savvy Indian middle class. I believe that the online distribution of education products and services will have significant growth in the coming years," said Pankaj Jain, partner at 500 Startups. 
 
EduKart is targeting revenue of $8-10 million (up to Rs 64 crore) and looking to announce its first profit by the end of this fiscal.

Yuvraj's Youwecan Ventures invests in EduKart

<a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BPaytm&amp;sortorder=effectivedate">Paytm</a>’s <keyword id="2324069" type="UNKNOWN" weightage="80" keywordseo="Payments-Bank">Payments bank</keyword> VP <keyword id="2068227" type="UNKNOWN" weightage="80" keywordseo="Vikas-Purohit">Vikas Purohit</keyword>, who recently quit mobile wallet and <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a> firm <keyword id="6357120" type="UNKNOWN" weightage="60" keywordseo="PayTM">Paytm</keyword> after a seven months stint will soon launch his own venture. 
 
In an exclusive interview with Business Insider, Purohit said this won’t have been possible if not for his boss. “Vijay has been a mentor from Day 1. Rarely do you find a boss who acts like a pillar of strength and motivation to achieve your goal”, he gushes. 
 
According to a <a href="http://techcircle.vccircle.com/2016/06/08/exclusive-paytms-payments-bank-vp-vikas-purohit-quits/">report</a>, Purohit’s last day at the company is this week. This comes at a time when the mobile wallet and <keyword id="35621" type="UNKNOWN" weightage="80" keywordseo="e-commerce">e-commerce</keyword> firm is on full throttle to launch its own payments bank. 
 
“We’re working on the product and the investor side. It’s based on machine and digital learning to enhance the digital customer experience”, he says. 
 When asked about Sharma’s role in his <keyword id="107737" type="ORGANIZATION" weightage="60" keywordseo="Entrepreneurship">entrepreneurship</keyword> plans, Purohit says, “This was just an idea. I remember it was late in the night, and Vijay was leaving for home. I told him I wanted to have a chat. A three hours marathon session later, I was convinced I should start something of my own. Today, even as I’ve moved out, I know he’s there. I’ll come back once every month for feedback.” 
 
Purohit claims he’ll launch his product/service by the end of the year. 
 
This isn’t the first time <a href="http://www.businessinsider.in/searchresult.cms?query=Vijay+Shekhar+Sharma&amp;sortorder=effectivedate">Vijay Shekhar Sharma</a> has nurtured entrepreneurship spirit among peers. Under his tutelage, brands like SHEROES and Edukart have emerged. Vijay encouraged founders <keyword id="1772553" type="PERSON" weightage="60" keywordseo="Sairee-Chahal">Sairee Chahal</keyword> and Ishan Gupta. SHEROES.in, founded by Sairee, curates work from home jobs in India, building a community of working women, helping them find mentors and resources. EduKart on the other hand is India’s leading education marketplace, offering education seekers a platform to choose and enrol from 2000+ courses in degree, diploma, certificate, entrance coaching and K12 categories. 
 
Paytm refused to comment.

Exclusive: When Paytm Founder-CEO
Vijay Shekhar Sharma played mentor to Vikas Purohit

Indian Cricketer <a href="http://www.businessinsider.in/IPL-Auction-Yuvraj-Singh-sold-at-Rs-7-crore-to-Sunrisers-Hyderabad/articleshow/50878881.cms" target="_BLANK￿￿￿￿">Yuvraj Singh</a>, who runs the charity foundation called <a href="http://www.businessinsider.in/Yuvraj-Singhs-YouWeCan-invests-in-Rahul-Yadavs-Intelligent-Interfaces/articleshow/50392847.cms" target="_BLANK￿￿￿￿">YouWeCan</a>, announced that the charity is now venturing into the fast-moving fashion casual wear space, under the label of YWC. As per the plans, YWC will have both offline and online stores. 
 
For this, Singh, who <a href="http://www.businessinsider.in/Yuvi-means-business-Know-what-is-keeping-the-cricket-star-occupied-off-the-field/articleshow/46835693.cms" target="_BLANK￿￿￿￿">strictly means business</a>, has entered into a deal with listed apparel maker <keyword id="2381593" type="UNKNOWN" weightage="100" keywordseo="Suditi-Industries">Suditi Industries</keyword>, which has been making apparel for MTV, FC Barcelona and Manchester City FC. 
 
Also read: <a href="http://www.businessinsider.in/Yuvrajs-Youwecan-Ventures-invests-in-EduKart/articleshow/47782283.cms" target="_BLANK￿￿￿￿">Yuvraj's Youwecan Ventures invests in EduKart</a> 
 
"The brand <a href="http://www.businessinsider.in/Yuvraj-Singhs-YouWeCan-has-invested-in-a-sports-startup-and-he-is-putting-his-heart-into-it/articleshow/49239910.cms" target="_BLANK￿￿￿￿">YWC</a> will be focused on premium fashion. Premium celebrity merchandising is a wide open space," Suditi chairman and managing director Pawan Agarwal told ET. 
 
As of now, details of this new fashion line are in the process of being fine-tuned, but from what we know, it will include high-fashion lines for men, women and children. Suditi will be responsible for designing and manufacturing the exclusive range of lifestyle and fashion apparel. 
 
<a href="http://pixr8.com/wp-content/uploads/2015/04/Screenshot-2015-04-20-at-1311.jpg">Image source</a>

Yuvraj Singh’s 'YouWeCan' will now foray into lifestyle and fashion

<keyword id="6442384" type="ORGANIZATION" weightage="60" keywordseo="Wharton-School">Wharton School</keyword> of <keyword id="408897" type="ORGANIZATION" weightage="80" keywordseo="the-University-of-Pennsylvania">the University of Pennsylvania</keyword> will organize its global India-focused conference for the first time both in India as well as at its Philadelphia based campus in 2016, reported the Economic Times. 

	The event - the Wharton India Economic Forum (WIEF) - will be conducted to mark the 20th anniversary of the conference. The Wharton India Startup Competition, which provides startups a platform to showcase their ideas, is a major part of the event. 
 "Over the years, we have realised that we are uniquely positioned to support India and Indian businesses by conducting WIEF in both India and in the US," <keyword id="1278075" type="UNKNOWN" weightage="60" keywordseo="Aditya-Nair">Aditya Nair</keyword>, an MBA from the class of 2016 and one of the organisers of the competition, told ET. The event will be unique as it brings together industry leaders, investors, government leaders and Wharton professors on a single platform to discuss challenges facing the <keyword id="6356076" type="UNKNOWN" weightage="80" keywordseo="indian-economy">Indian economy</keyword> and small businesses. Wharton was in the eye of a storm in 2013, when it cancelled Prime Minister <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword>'s keynote address at the India Economic forum. 

	The startup competition will be held in Mumbai on January 5, 2016. It will give out prizes in various categories for the best emerging startup, best established startup and best social impact startup in India. Selected winners will be later taken to Philadelphia to present their startup at Wharton in February. 
 

	Anybody can participate in the competition with a business idea or model incorporating products or services targeting the Indian market and products or services targeting the US market.
 

	"The competition has grown to become a seminal event for startups aspiring to gain exposure to and funding in both India and in the US. Many startups have received funding offers at the competition itself," said Nair. 
 Presha Paragash, a Wharton MBA and co-founder of an early stage investment firm focusing on Indian startups, <keyword id="2708994" type="UNKNOWN" weightage="80" keywordseo="Sol-Primero">Sol Primero</keyword>, launched the competition in 2014 to raise awareness about the startup ecosystem in India. 

	"There were good startups emerging out of India, but people were not too familiar with how exciting India was in the space," he said. This year, the competition has received 250 applications, and Paragash expects the number to go up to 600-800 next year. 
 With the boom in eCommerce and startups and rising investor interest, global business school alumni are focusing on the space. <keyword id="33081" type="ORGANIZATION" weightage="60" keywordseo="Stanford">Stanford</keyword> alumni have launched a Stanford Angels and Entrepreneur chapter in India, and <keyword id="70846" type="ORGANIZATION" weightage="80" keywordseo="Harvard-Business-School">Harvard Business School</keyword> alumni run HBS Alumni Angels India to bring together alumni as well as other investors to invest in early stage businesses. "It is a fantastic platform to bring alumni together to generate high quality deal flow for investors," said Stanford alumnus and founder of <keyword id="2960841" type="UNKNOWN" weightage="80" keywordseo="EduKart-Ishan-Gupta">EduKart Ishan Gupta</keyword>, who has joined the Stanford group as an investor. 
	 
	(Image: Indiatimes)

You Searched For "Edukart" and got 5 results

Paytm buys online education startup Edukart in no cash deal

BI India Bureau

Yuvraj's Youwecan Ventures invests in EduKart

BI India Bureau

Exclusive: When Paytm Founder-CEO Vijay Shekhar Sharma played mentor to Vikas Purohit

Saikat Pyne

Yuvraj Singh’s 'YouWeCan' will now foray into lifestyle and fashion

BI India Bureau

Wharton School’s Economic Forum to be held in India for the first time

BI India Bureau

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