New Delhi: Eupheus Learning, a Delhi-based B2B EdTech (education) company has raised 4.1 million dollars in its Series B funding round from United Education Company (UEC), which is Kuwait’s leading company in the education sector, and Al Rayan Holding Company (ARHC), in which UEC holds a majority stake. The funding marks the first investment from Kuwait into India’s EdTech market, the company claimed.
The latest round of funding offerrs å different curriculum to cater to Kuwait’s diverse markets and demographic composition. Eupheus will use the new capital for organic expansion in domestic markets largely i home learning solutions, leveraging on creating depth in customer acquisition through its school ecosystem. International expansion will be a focus area starting with Middle East and foraying into other markets like Sri Lanka and Bangladesh.
The company will also be pursuing inorganic growth opportunities in the EdTech segment thru acquisitions. In the second half of 2020, Eupheus launched its first home learning solution – Learn2Code, a gamified solution for coding in partnership with leading Canadian coding company, RoboGarden. Learn2Code saw an encouraging response with more than 700 schools and 180,000 students’ onboarding for the initiative in a span of just five months, said a press release from the company on Monday.
According to the release, Eupheus Learing is one of the largest outreach platform for schools with an ecosystem of 13,000 schools, driving partnerships with 5000 schools covering four million students. The released claimed that it is the only company in the Edtech space to turn profitable within 21 months of its operations with revenues of Rs. 72 crore in the financial year 2019-20.
The company was founded in June 2017 by Sarvesh Shrivastava, Ved Prakash Khatri, and Amit Kapoor. The company targets reaching 10 million kids in India through its curriculum and specially curated educational offerings in Kinesthetic learning, reading enhancement, STEM/STEAM, and English language learning via exclusive tie-ups with award-winning EdTech companies from across the world.
Speaking on the latest round of investment, Sarvesh Shrivastava, Founder of Eupheus said, “We are proud to be one of the few profitable companies in the EdTech space in India. We are excited to partner with UEC and ARHC to roll out our solutions across the Middle East and becoming the leading EdTech platform in the region. Eupheus has established a strong presence in the B2B EdTech space in India and we look forward to expanding our geographical presence, increasing our engagement with schools, and bringing more innovative learning solutions to our target markets.”
Shaikha Dana Nasser Al-Sabah, Chairperson, UEC, said, “We are excited to partner with Eupheus Team as they continue their journey in fast-growing EdTech market with their innovative and differentiated offerings. We see a huge opportunity in utilising their offerings to improve learning outcomes across our network of schools in the Middle East.”