Eupheus Learning Raises $4.1 Mn In Series B Round Led By United Education Company And Al Rayan Holding Company
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New Delhi-based business-to-business (B2B) edtech company Eupheus Learning announced on Monday to have raised $4.1 million in Series B funding round led by United Education Company (UEC) and Al Rayan Holding Company (ARHC) in which UEC holds a majority stake; offering different curriculum to cater to Kuwait’s markets diverse demographic composition.
The platform will use the new capital for organic expansion in domestic markets largely in-home learning solutions leveraging on creating depth in customer acquisition through its school ecosystem. International expansion will be a focus area starting with the 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.
“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. We have been focused on imparting 21st Century Skills in alignment with the existing curricular requirements – the approach has been well appreciated by our partner schools and has tremendous opportunity to expand across the ecosystem of 30000 schools in India,” shared Sarvesh Shrivastava, founder, Eupheus.
With the mission to be the leading partner for schools to impart 21st-century skills to students, the company was founded in June 2017 by Sarvesh Shrivastava, Ved Prakash Khatri, and Amit Kapoor. Its diverse solutions range across multiple pedagogies from core curriculum subjects to supplemental learning to at-home solutions, driven by exclusive partnerships with international players like ETS, Sanako, World Book, Fiction Express, etc.
In the second half of 2020, it 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.
“We are excited to partner with Eupheus Team as they continue their journey in the fast-growing edtech market with their innovative and differentiated offerings. We see a huge opportunity in utilizing their offerings to improve learning outcomes across our network of schools in the Middle East. There is a lack of a School focused Distribution platform and in a short span Eupheus has established itself as the first choice for edtech companies to partner with and reach out to a large network of schools. We feel that the omnichannel approach of Eupheus is the way forward to build a scalable profitable model in the edtech space,” added Shaikha Dana Nasser Al-Sabah, chairperson, UEC.
The outreach platform for schools provides an ecosystem of 13,000 schools, driving partnerships with 5000 schools covering 4 million students. Its revenue is INR 72 crore in FY 19-20 and has a pan India presence across 80 cities with a strong team of 175 personnel.