AEON Learning Pvt. Ltd. is an edutech firm which owns and runs the education platform, Avagmah. The company announced yesterday (30/11/2017) that it has completely acquired the Bengaluru – based edutech startup, Acadgild for US $10 million. Avagmah is an online platform (both website and mobile app) where students can study and earn their respective degrees online! The company has tie-ups with more than seven universities and colleges and has more than 22,000 students across 66 countries enrolled in its online platform.
Acadgild offers technology learning courses in Big Data, AI (Artificial Intelligence), Machine Learning and Web Development among others. It offers a total of 35 technology learning courses. Vikalp Jain, one of the co-founders of Acadgild will join the BoD (Board of Directors) of AEON as part of the acquisition deal.
“This acquisition of Acadgild will help us target much larger market segments including short-term courses for professionals. Each of the categories we are already catering to, will be beefed up with additional resources coming in from the Acadgild acquisition. Both companies, however, will continue to function as independent brands”, Karthik K.S., founder and chief executive officer (CEO) of AEON Learning said.
The company so far has raised US $6.5 million through investments since its inception. The company’s main gaol now is to achieve a student – base of over 1,00,000 by 2022.
“There are clear synergies in the business processes and target markets of both Avagmah and Acadgild and this acquisition puts us in a formidable position to address both education and re-skilling needs of working professionals and will help us grow and scale faster than ever”, Mr. Jain said in a statement.
The online education sector in India has seen major growth and investments in the past few years. This sector is expected to be valued at US $1.96 billion by 2021. Quite a few edutech startups got investments this year (2017). They include the edutech startup, Myly, which secured Rs. 1.61 crores from Small Industries Development Bank of India (SIDBI) during April, this year. The edutech startup, VoLT, secured an undisclosed amount of seed funding from the VC firm, YMS Mobitech, during November, 2016 just to name a few. Read more on Startup News