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BrightChamps raises $63 million, valuation hits $500 million in a year

BrightChamps raises $63 million, valuation hits $500 million in a year

The 14 months old Goa-based start-up said that it plans to utilise the funds to hire across major functions such as product, technology and operations.

BrightChamps raises $63 million, valuation hits $500 million in a year BrightChamps raises $63 million, valuation hits $500 million in a year

Edtech platform BrightChamps has raised $63 million, taking its valuation to $500 million. The fresh investment round saw the participation from Premji Invest – the investment arm of Azim Premji’s family office - along with GSV Ventures, which is an edtech-focused venture capital firm based out of the US; Flipkart’s co-founder Binny Bansal; Bengaluru-based 021 Capital; and Singapore-based BEENEXT.

The 14 months old start-up said that it plans to utilise the funds to hire across major functions such as product, technology and operations. The company aims to help the children in the age group of 6-16 years build next-generation life skills through its crafted live learning program which complements the school curriculum, fuels the latent talent of the children and grooms them towards the future success in alignment with their natural abilities and inclinations.

BrightChamps claims that in less than 10 months of its inception, the company has managed to establish its market leadership in over 10 countries with an outstanding booking run rate.

According to the company, currently over a hundred thousand registered students are spending more than 6 million minutes of live learning every month on the platform. These students are mentored by close to a thousand online instructors spread across the world. Most incredible part about the journey of BrightChamps is that this unprecedented growth was achieved profitably by the company, without consuming any external capital so far, as per the company’s official statement.

 “With its exceptional business growth and deeply passionate team of leaders and educators, 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,” Bansal, co-founder, Flipkart said.

As against the majority of the edtech companies based out of Bengaluru, BrightChamps is headquartered in Goa . It was founded during the pandemic with a majority of the workforce operating remotely. The company is looking forward to opening its centre of excellence in Bengaluru for employees who are looking to work in the hybrid model.

 “BrightChamps was conceptualised with a single thought – What would the youngsters of tomorrow need to excel in this fast-changing dynamics of the modern world? 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. We have been stunned with the love we have received so far from parents and students across different countries,” Ravi Bhushan, the founder and CEO, BrightChamps, stated.

T K Kurien, ex-CEO of Wipro and Managing partner at Premji Invest, said that in little over a year, Brightchamps has established itself as one of the fastest growing edtech companies in the market that it serves in. “Leveraging human resources globally to deliver personalised experiences, along with a unique ability to hyper differentiate learning pathways, Brightchamps is on the path to prove that the power of data and learning can be combined for differentiated outcomes,” he added.

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Published on: Nov 08, 2021, 12:57 PM IST
Posted by: Tarab Zaidi, Nov 08, 2021, 12:42 PM IST