It's Wednesday and there has been a bunch of funding announcements just in the last 24 hours (one of which I shall cover tomorrow) and today we shall be talking about some more EdTech & social commerce.
➡️ The EdTech funding train continues to chug along, with now Toppr raising $47M in a Series D round led by an investment firm called Foundations Holdings, with managing partner Aakash Sachdev joining the company's board.
➡️ I'm having a hard time keeping track of all the EdTech cos raising money at $100M+ valuations but seems like there are over 4-5 companies worth over $100M (and BYJU being a decacorn) who have all raised capital in the last month or two.
➡️ The company was started in 2013 by Zishaan Hayath and Hemanth Goteti and offered courses for students in 11th & 12th grade. The company has offerings for students all the way from 5th to 12th grade as well as college entrance exams (engineering & medical). They also have a doubt-solving app called Answr akin to Doubtnut/Instasolv.
➡️ But it's the company's recent products that I find more interesting are Codr & School OS. Codr is a completely different education product for students but also covers a wide range of students (grades 1 - 12). It teaches kids coding skills in a one-on-one setting (similar to WhiteHat Jr) with a pricey per session cost.
➡️ The company has also built a platform called School OS which seems like a platform for schools to be able to teach online, manage students & processes as a SaaS tool so teachers can focus on teaching.
➡️ We've seen & heard of a lot of M&A activity happening in the EdTech space, but seems like Toppr is taking the approach of building several adjacent businesses and can probably do a good job of bundling services & upselling them to students. Technically a student could be using Codr, School OS, and Toppr (as well as Answr) all at the same time.
➡️ With Covid pushing a lot of education online it only makes sense that all these EdTech companies are raising capital to push growth, I wonder if we will continue to see a bunch more new companies pop up or if we see more consolidation in the EdTech sector.
2. https://bit.ly/30TNmbr: BulBul raises $8.7 Mn Series A round led by Info Edge
➡️ In more money news, BulBul has also raised $8.7M in a Series A round led by Info Edge. The entity now owns 17.82% of the social commerce startup and invested $6.63M out of their new 100 Cr fund.
➡️ Bulbul is a video and livestream led commerce platform that claims to make online shopping engaging and social. And while the global pandemic has seen eCommerce boom in the US, it hasn't had the exact effect in India.
➡️ BulBul has been facing a decline in orders since March, but is apparently recovering faster than other commerce companies "because of the festive and wedding seasons."
➡️ I think the jury is still out on social & video commerce companies in India. I personally hold the view that it works for items that sell on teleshopping channels but outside of that I'm not sure. Old thread on the sector: https://twitter.com/anmolm_/status/1196241247955902464
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/Rahul_J_Mathur/status/1288010048208175104
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