How will this Indian edtech firm’s acquisition plans work out?

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I recently got started on the latest season of The Boys, an irreverent take on what a massive superhero industry would look like, and I can’t recommend it enough. When we think of having great power, I believe many of us would default to Uncle Ben’s dying words to Peter Parker: “With great power comes great responsibility.”

The Boys takes a look at this from the opposite end of the spectrum: absolute power corrupts absolutely. The scary thing is, much of what is shown seems like it could play out that way in real life – superheroes backed by powerful organizations doing whatever they want and using whatever means they have to go about it.

That said, while startups might not generally be considered as powerful as a fictional superhero company like Vought, many of them do have the potential to hold lots of sway. For India-based edtech firm BrightChamps, its new US$100 million war chest for acquisitions means that it will have to ensure that it’s responsible when buying up other companies.

Today we look at:

• BrightChamps setting aside US$100 million for acquisitions.
• Cashify living up to its name with a US$90 million raise.
• Other newsy highlights such as Sequoia Capital India’s Surge raising its funding cap for startups and a former Huobi senior manager getting prosecuted for illicit trading.

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A brighter future

Image credit: Timmy Loen

Perhaps BrightChamps is thinking that bigger is better. If that’s the case, it’s no surprise that it’s set aside US$100 million to acquire companies across the US, the UK, India, Southeast Asia, and the Middle East and North Africa region. Read on to find out how this could possibly play out.

• Bringing tech skills to students around the world: Founded in 2020 by Ravi Bhushan, BrightChamps’ curriculum targets the country’s K-12 segment and includes advanced tech subjects such as AI, machine learning, virtual reality, and robotics. Currently, it has a presence in more than 30 countries, which include Canada, the United Arab Emirates, Saudi Arabia, Indonesia, Malaysia, Thailand, and Nigeria.

• Eyes on the prize: In particular, the company has set its sights on Southeast Asia, which, according to Bhushan, brings in nearly 50% of its total revenue. Indonesia alone is responsible for nearly 30% of the total amount. That said, BrightChamps isn’t just expanding willy nilly – it also has a set of criteria for acquiring companies.
  Targeted firms should be able to give BrightChamps a head start in a new vertical, help it go deeper in a particular geography, or have a user base relevant to the Indian company’s offerings.

• An oasis in a funding desert: Despite funding drying up for many startups, Bhushan said that BrightChamps has enough in the bank and is looking at a runway of six to seven years. Despite the demand for edtech services reportedly shrinking following the lifting of Covid-related restrictions, the founder believes that the need for online education will remain steady for younger age groups.

Read more: Indian edtech firm earmarks $100m for acquisitions, eyes SEA

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