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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

<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)

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

<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

According to an education survey conducted by HSBC, <a href="http://blogs.timesofindia.indiatimes.com/minorityview/indian-parents-have-very-high-expectations-about-their-childrens-education-and-careers/">educating their children is the ultimate goal of 51% of Indian parents</a>. So, it is not surprising that education is the next front on the horizon of the entrepreneurial Indians leading to the emergence of many interesting edtech concepts. 
 Most of the <keyword id="2989202" type="UNKNOWN" weightage="20" keywordseo="edtech-startups">edtech startups</keyword> comprise faculty pool, <keyword id="6379645" type="UNKNOWN" weightage="20" keywordseo="Online-education">online education</keyword> material and technology working in tandem. Most of them cater to various sections of the student community, ranging from schoolchildren to working professionals and budding entrepreneurs. 
 
While there is some focus on tuition for school-going children, others help in cracking entrance tests, and a few others focus on providing professional certification courses. Indian education system has come a long way from classroom education to redefining the way children are taught, and these edtech <a href="http://www.businessinsider.in/topic/Startups">startups</a> are responsible for this revolution. 
 
<h3>
	<a href="http://www.embibe.com/">Embibe</a></h3>
Embibe is an online portal that consists of a team of entrepreneurs, who help students to get coaching for various entrance examinations like JEE, AIIMS, AIPMT, CET and many more. Founded by an ex-TCS employee, 33-year-old Aditi Avasthi, wanted to change the way students prepared for competitive exams. 
 
At present, Embibe boasts of over one million student users. Last year, this edtech venture raised $4 million from early-stage investor such as Kalaari Capital and Lightbox. 
 
<h3>
	<a href="http://www.careerguide.com/">CareerGuide</a></h3>
<h3>
	CareerGuide is an edtech platform targeted to provide answers to all the career related queries of an aspirant. They have a marketplace of renowned career experts from various fields and a student can connect instantly to get their query resolved.</h3>
How it is different than the other players? Well, Artificial Intelligence (AI) may be the answer. CareerGuide boasts of an AI-led algorithm that connects students with the best possible career guidance expert based on their query. Further, their psychometric assessments help students in figuring out their true aptitude, interest, motivation and personality to <a href="http://www.businessinsider.in/6-Tips-To-Landing-A-Job-At-A-Startup/articleshow/27654867.cms">take informed career decisions</a>. CareerGuide has most definitely emerged as the one of the hottest names in the edtech business as of now. 
<h3>
	<a href="http://www.vedantu.com/">Vedantu</a></h3>
<h3>
	Looking for a personalised teaching while you sit at home? Vedantu, the live online tutoring edtech company, is conceptualized to bring personalization back into education where a teacher will teach according to the requirement, pace and level of a student and the student will interact with the teacher online.</h3>
The founders claimed the existing teaching system to be “institutionalized and generalized”, which quite possibly was the motivation behind this concept. 
 
According to Vamsi Krishna, cofounder and CEO, “The current system is teacher-centric and learning happens, predominantly, one-way. We want to change that.” 
 
Vedantu raised a $5 million from Accel Partners and Tiger Global Management last year in May. 
<h3>
	<a href="http://www.edukart.com/">EduKart</a></h3>
<h3>
	EduKart is an online entrance coaching site that caters to the needs of almost every individual. Apart from courses for high school students appearing for various competitive examinations, the company offers undergraduate and post graduate courses for everyone who seeks help in management, engineering, medical, civil services, business, Law, and various other interesting courses.</h3>
The startup acquired $1 million funding from Holostik Group’s United Finsec, Yuvraj Singh’s YouWeCan Ventures, 500 Startups, and a bunch of other investors in June ‘15. EduKart projected 5x growth for themselves last year. 
 
<a href="http://www.upgrad.com/">UpGrad</a> 
 
If you are a working professional and want to upgrade your skill set, UpGrad is the place for you to explore. This startup offers online higher education programs for working professionals. With a highly experienced faculty forming academia advisory board, this company provides one-to-one academic and non-academic support for all its students by providing them with live projects, case studies, group assignments, access to live lectures and interactive content and many more. 
 
“With UpGrad, we aim to revolutionise the online education industry by bringing credibility and scale. The response to our first course is a strong validation that we are on our way of achieving our vision,” said UpGrad founder Ronnie Screwvala. 
 
<h3>
	<a href="http://www.toppr.com/">Toppr</a></h3>
<h3>
	This super-interesting edtech firm focuses on giving training to students aspiring for IIT JEE, pre-medical and also the foundation courses (starting from class 8) for various competitive examinations. They provide the students with unlimited practice tests along with learning material and students’ doubts will be answered personally on live chat.</h3>
 
Till date, Toppr has raised $12.2 million in three funding rounds from four investors, such as Fidelity Growth Partners India, Helion Venture Partners, SAIF Partners, InnoVen Capital India and Powai Lake Ventures. 
<h3>
	<a href="http://www.wiziq.com/">WizIQ</a></h3>
<h3>
	WizIQ believes in delivering high impact online teaching and training through mobile apps by making virtual classrooms possible. Their online academy builder includes live classes, integrated cloud storage, mobile learning, tests and assignments and many other interesting features.</h3>
Hailed as the 'best virtual classroom provider' at the World Education Congress, one should expect a promising 2016 from WizIQ. 
 
<h3>
	<a href="http://www.iprofindia.com/">iProf India</a></h3>
<h3>
	iProf claims to be India's biggest Tablet PC based education content delivery company and digital education library that offers “smarter way” of studying through its advanced android based application that works on offline mode (without internet connection). Their USP is their content, which can be accessed both online and offline via pen drives, memory cards, tablet PCs in a secured and scalable environment.</h3>
iProf has raised $15 million in total funding through Series A &amp; B rounds from Daily Mail Group Information, IDG Ventures India and Norwest Venture Partners – NVP. 
 
In a nutshell 
 
The Indian edtech market is pegged at over $70 billion by 2017. The space breakup is estimated with higher education sector closing on 50 per cent, K12 at 40 per cent, and coaching/tutoring taking up 10 per cent. These emerging and <a href="http://www.businessinsider.in/Top-10-Indian-startups-that-are-going-places/articleshow/49090916.cms">successful startups</a> are surely creating an impact and are making their presence felt. Books cannot be updated real time but these start-up can push updates on an app and this can be distributed to millions with no incremental cost which makes edtech definitely one of the most exciting sectors in the Indian consumer market. The funding battleground could perhaps change the face of this sector as well. 
 
(The article has been authored by <a href="https://plus.google.com/+UtkarshSahu9?rel=author">Utkarsh Sahu</a>, a digital strategist with over three years of writing experience for business magazines, such as Business Insider, Huffington Post, Tech Radar, etc. He admires technology with paradigm-shifting attributes, and digital marketing, social media and content are his current beat. An analytics enthusiast, he likes to break down key performance drivers of a robust digital marketing campaign. You may connect with him on <a href="https://in.linkedin.com/in/utkarshsahu9">LinkedIn</a> and <a href="https://twitter.com/UtkSahu">Twitter</a>.) 
 
(Image: Thinkstock)

8 Indian Edtech startups to watch out for in 2016

<a href="http://www.businessinsider.in/searchresult.cms?query=yuvraj+singh">Yuvraj Singh</a>’s heart lies in sports for obvious reasons and it shows. The Indian cricketer’s fund <a href="http://www.businessinsider.in/searchresult.cms?query=YouWeCan">YouWeCan</a> has now invested in a sport <a href="http://www.businessinsider.in/searchresult.cms?query=startups">startup</a>, ‘SportyBeans’, which runs various sporting programmes for kids. 
 
This is the ninth investment by YouWeCan and previously it has invested in mobilephone based apps, health marketplaces, etc. 
 
Singh has picked up 10%-15% stake in SportyBeans. The startup caters to 1.5-8 year olds and has 35 centres across 17 cities. 
 
SportyBeans director Karan Sareen hoped the investment would create a transformational impact on building the next generation of <a href="http://www.businessinsider.in/searchresult.cms?query=sportspersons">sportspersons</a>. 
 
Sareen revealed apart from investments, Singh is involved in co-designing the course curriculum. “It’s a research-backed sports and fitness curriculum across popular sports including soccer, basketball, baseball, volleyball, hockey, tennis, cricket, rugby, and golf,” he added. 
 
SportyBeans is looking to raise around Rs 52-65 crore and has a vision to have a network of over 200 centres in the next two years with revenues of about Rs 80 crore. 
 
SportyBeans has a base of 15,000 children per year. 
 
Meanwhile, Singh’s YouWeCan Ventures has also made investments in Moovo, Healthians, Edu-Kart, JetSetGo and Cartisan. 
 
(Image: Indiatimes)

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