LEAD School Acquires AI-Powered Gamified Practice Startup QuizNext
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Education technology company LEAD School on Monday announced strategic acquisition of QuizNext, a gamified practice app that offers AI-based practice quizzes for students of class 6-10 under CBSE and ICSE boards.
Lead School combines technology, curriculum and pedagogy into an integrated system (IS) of teaching and learning to improving student learning and teacher performance in schools.
The Mumbai based company said this acquisition will enable LEAD School to enhance its overall product offering and help schools maintain their high standards of education. The integration will bring new features for schools to serve their assessment needs while building practice habit in students through gamified elements and personalised recommendations, as per the company statement.
It currently serves over 4 lakh students and 16,000 teachers and has partnered with over 1,000 partner schools in over 400 cities across the country.
“COVID-19 has brought in a seismic shift in school education. Beyond online classes, students need a lot of support in a remote learning environment for a full schooling impact. LEAD School is committed to providing complete, seamless schooling irrespective of whether schools are physically open or shut. Integration of QuizNext into our platform is another step in this direction,” said Smita Deorah co-founder and COO, LEAD School.
In August this year, LEAD School had raised USD28 million in series C funding round lead by WestBridge Capital along with participation from existing investor and major stakeholder in the company Elevar Equity.
The last eight months have seen massive venture capitalist (VC) investment inflow and mergers and acquisitions in the edtech space as the Covid-19 pandemic spiked the demand for online learning. Unacademy, second most valued edtech startup in India, even entered the coveted unicorn club in September after raising USD 150 million in a round led by Softbank.
Udemy has also made a number of acquisitions this year, including Coursavy, Prepladder and Creatryx.
Byju’s has raised a total of USD 1,122 million this year in five tranches and is in talks to raise fresh USD 200 million, as per news reports. Similarly, Vedantu and Toppr, two of the other popular edtech startups in the country have raised USD 100 million and USD 46 million, respectively, while the former is reported to raise fresh USD 100 million soon.