The test preparation platform Ace Creative Learning, known as Deeksha, was purchased by the Indian edtech company Vedantu for $40 million (Rs 330 crore).
Deeksha will bring around 13,000 of its students to Vedantu’s platform thanks to this funding. It will also make use of the pedagogical content, educational technology, and live lessons already offered by the edtech unicorn.
Vamsi Krishna, the CEO and co-founder of the company, also made note of how the acquisition will provide the company access to roughly 40 offline centres that Deeksha runs in the three states of Karnataka, Telangana, and Andhra Pradesh, allowing it to extend its hybrid business model.
Deeksha, which employs about 950 people, will continue to manage its operations under the direction of its current founders as part of the agreement.
Dr. Sridhar G. and Lalit Sridhar founded Deeksha in 1988. It started out with one classroom and has expanded to 20 campuses in three different states, including Karnataka, Telangana, and Andhra Pradesh. Over 60,000 kids, according to the Bengaluru-based company, have gone through the system.
Vedantu, which was established in 2014, provides private and group instruction for grades K–12 as well as test preparation. This edtech startup is the fifth to achieve unicorn status.
