BrightChamps, a edtech startup, makes its third purchase and enters the B2B market
Brightchamps, an education technology business, said that it has acquired Hyderabad-based Metamorphosis Edu in a cash and equity agreement; the specifics of the acquisition's terms were not made public. To give kids training in entrepreneurship-related skills, Metamorphosis Edu collaborates with schools all throughout India. Additionally, the firm supports its customers in understanding the National Education Policy (NEP).
A foothold in B2B: According to creator and CEO Ravi Bhushan, BrightChamps has now entered the B2B market as a result of this acquisition. BrightChamps' B2B vertical will be led by Metamorphosis Edu founder Pavan Allena under the direction of chief financial officer Amit Kumar.
Bhushan said that the business is combining all of its product lines, including those it has recently purchased, onto a single platform. "The entire Metamorphosis crew has joined BrightChamps at this time. neither side has made any layoffs. This crucial component was entirely lacking, but now that it has been included, we have the ideal team and product mix to contribute to the ecology of the school, according to Bhushan.
Twenty-two people work for Hyderabad-based Metamorphosis Edu, which was created in 2020, excluding the 40 to 50 teachers who serve as consultants. Contrarily, BrightChamps has 3,000 total employees, including consultants, in addition to 700 full-time employees.
The B2B collaborations will also assist BrightChamps in establishing labs inside of schools and in providing teachers with curriculum training from business specialists who have been approved by a self-regulatory board within the company. BrightChamps currently serves students between the ages of 6 and 16 with online classes in programming, artificial intelligence, design thinking, languages, and financial literacy from offices in Goa, Ho Chi Minh City, Bengaluru, and Hyderabad.
While Metamorphosis Edu has thus far concentrated on establishing entrepreneurship cells in schools to teach its courses, it wants to launch more skill-based learning courses as the B2B arm of BrightChamps. "Because we have global aspirations, we want to enable ourselves with the right set of local teams in different important geographies, like the United States and Indonesia," Bhushan continued.
Prior acquisitions: In June 2022, BrightChamps announced plans to complete $100 million worth of mergers and acquisitions through stock and cash transactions. It had acquired two businesses prior to purchasing Metamorphosis Edu. The business stated in February 2022 that it had paid cash and stock to acquire Education10x, a platform for teaching children financial literacy.
In August 2022, it paid $15 million in cash and equity to purchase Schola, a live learning platform for children situated in Singapore. In 2020, Bhushan, an IIT-Varanasi alumnus, established Brightchamps, which has a $650 million valuation and $63 million in total investment. Over 30 countries, including the US, Malaysia, Indonesia, Vietnam, India, and the United Arab Emirates, already use it.
