NextGen Skills Learning Platform for Kids BrightChamps Raises $63M at $500M Valuation
BrightChamps, a next-generation life skills learning platform for kids, has raised $51 million in a new funding round taking the company’s total funding to $63 million since its inception.
The round was led by Premji Invest (the private investment office of Ajim Premji), and saw participation from EdTech-focused VC GSV Ventures, Singapore-based VC BEENEXT, Flipkart co-founder Binny Bansal, and Bengaluru-based 021 Capital.
According to a statement, the Goa-headquartered startup plans to use the new capital to expand to other relevant verticals by launching more courses and also exploring opportunities to acquire new companies that share its mission and sensibilities. It also plans to double down on its existing markets as well as expand its footprint in the US and Canada.
Founded by Ravi Bhushan in July 2020, BrightChamps aims to empower kids across the globe in the age group of 6 to 16 with important next-generation life skills through its adeptly crafted live learning program. The startup teaches kids programming, artificial intelligence, and others and is currently operational in over 10 countries including several in Southeast Asia and the Middle East.
Speaking about the platform, Ravi Bhushan, Founder & CEO of BrightChamps, said,
“BrightChamps was conceptualized with a single thought – what would the youngsters tomorrow need to excel in this fast-changing dynamics of the modern world? We felt that there is an immense need for a unique curriculum that can fill the gaps in the current education system while aligning with a child’s learning abilities as per their necessity of the age. We have been stunned with the love we have received so far from parents and students across different countries.”
BrightChamps said currently over a hundred thousand registered students are spending more than 6 million minutes of live learning every month on its platform, mentored by about a thousand online instructors from across the world. The startup claimed to have seen 10X growth in its annual recurring revenue in the current calendar year. Bhushan said the startup’s growth has been completely organic so far and it has not used any money raised from the investors.
Commenting on the investment, T K Kurien, Ex CEO of Wipro and Managing Partner at Premji Invest, said in a statement,
“In less than a year, BrightChamps has established itself as one of the fastest-growing EdTech companies in the markets that it serves in. Leveraging Human Resources globally to deliver personalized experiences, along with a unique ability to hyper differentiate learning pathways, BrightChamps is on the path to prove that the power of data and learning can be combined for differentiated outcomes.”
Currently, BrightChamps’ leadership team is operating out of Goa but it plans to open a facility in Bengaluru for employees willing to work on a hybrid model. Bhushan said the company is going to launch a peer-to-peer experience and is also looking to host Olympiads and tech hackathons.
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