Finding Niche in the Competitive Edtech Market
In the last two years, edtech startup Eupheus Learning not only raised INR 105cr through two rounds of funding it was also able to retain more than 80 per cent of its customers
Being a school-focused distribution platform, the pandemic came as a blessing in disguise for Eupheus Learning. The pandemic allowed edtech firms to innovate and introduce new features that address the issues related to remote learning and Eupheus had already specialized in this. During the last two years, the startup not only raised INR 105cr through two rounds of funding it was also able to retain more than 80 per cent of its customers.
"During the pandemic, the adoption of modern digital solutions and platforms in schools across India increased drastically. For us, the deep understanding of the school ecosystem thus led to capital efficacy in scaling up and unlike our heavily funded peers, we have been frugal in capital utilization," says Amit Kapoor, co-founder, Eupheus Learning.
The startup has also acquired two companies in the last 12 months. This includes ClassKlap, a Bengaluru-based company with personalized remedial services for students and SchoolMitra, a SaaS-based home-grown company that offers a proprietary school management system.
The company believes that its unique school outreach initiatives like storytelling sessions for kids, Olympiads and coding competitions have created differentiation for the company in this highly competitive and contested education market and helped it in community development and engagement.
Currently, the startup caters to around 25,000 premium and primary private schools across parts of India, with an enrolment of approximately 30 million students. In addition to this, it has reached out to 13,000 schools and converted 5,500 schools into its users.
"With more than 1,25,000 schools as the potential target market, we are aiming to impact more than 15 million students in the next five years with our curriculum and specially curated educational offerings from Kinaesthetic Learning, Reading Enhancement to STEM/STEAM and English language learning. All this will be achieved via exclusive tie-ups with award-winning education technology companies from across the world," says Kapoor.
The startup closed the financial year 2022 at an EBIDTA positive and targets to grow its top line by 2.5x while maintaining a positive EBIDTA.