BrightChamps, A $500 million EdTech business has emerged from stealth mode

BrightChamps, an Indian EdTech Startup, which was valued at nearly $500 million in a new funding round led by Premji Invest (the private investment office of technology billionaire Azim Premji) seeking to bridge the learning gap left by K12 schools, said on Monday that it has raised $51 million in a fresh funding round and $63 million since its launch a year ago, as now the Goa-based firm plans to extend its footprints in over ten countries. BrightChamps, teaches kids programming and other skills in over ten markets, including several in Southeast Asia, the United States, and Canada, according to co-founder and CEO Ravi Bhushan.

The company, which has over 100,000 registered students and attain profitability, is "building a 'weapon of mass instruction' and is leading the disruptive wave that will make India one of the largest exporters of transformative digital education," according to Deborah Quazo, managing partner at GSV Ventures. BrightChamps was engaged with investors to raise money at a valuation of over $500 million, according to TechCrunch in July. However, Bhushan, who was homeschooled and formerly employed at property web PropTiger as the chief technology and product officer, believes that schools throughout the world are failing to teach children important life skills. "This isn't just the issue in India". In the name of technology, schools all around the world are teaching students how to modify the text style in Microsoft Word," he stated.

BrightChamps was engaged with investors to raise money at a valuation of over $500 million, according to TechCrunch in July. According to Bhushan, the startup's development has been entirely organic so far anyway, with no funds obtained from investors. "We're only growing because of the money we've gained from our consumers," he explained. BrightChamps has been one of India's most talked-about companies in the last year, and it has already been approached by one of the country's top edtech giants with a purchase offer.

Bhushan refused to respond on any acquisition approaches BrightChamps has received, but he did say that he is creating the company with a long-term strategy in mind and is not interested in making short-term deals. "As you can see, education has been a lifelong interest of mine. BrightChamps is also looking into acquiring certain companies that reflect its vision and values, he added.

"Brightchamps has positioned itself as one of the fastest growing EdTech firms in the locations it serves in less than a year since its launch. Brightchamps is illustrating that the power of data and learning can be combined for differentiated outcomes", according to T Kurien, Managing Partner of Premji Invest.