Ahead of its foreign expansions, India’s Edtech startup Eupheus Learning has raised $4.1 million in a Series B funding round, led by Kuwait-based United Education Company (UEC) and Al Rayan Holding Company (ARHC) in which UEC holds a majority stake.
The Start-up has announced international expansion starting with West Asia and entering Sri Lanka and Bangladesh. The firm also said that it would pursue inorganic growth opportunities through acquisitions.
It plans to use the fresh funds to fuel its expansion, focusing on home learning solutions, leveraging customer acquisition through its school ecosystem.
This was the second fund-raise this year by the four-year-old, Delhi-based firm after it raised $4.3 million in equity and debt funding led by Yuj Ventures, the family office of Sid Yog, founding partner of The Xander Group.
Eupheus sells curriculum and homework tracking services on a subscription model to schools and claims it turned profitable within 21 months of its operations.
“We see a huge opportunity in utilizing their (Eupheus) offerings to improve learning outcomes across our network of schools in the Middle East. We feel that the omnichannel approach of Eupheus is the way forward to build a scalable profitable model in the edtech space,” UEC, Chairperson, Shaikha Dana Nasser Al-Sabah said.
In the second half of 2020, Eupheus launched its home learning solution Learn2Code, a gamified solution for coding in partnership with Canadian coding company RoboGarden. Learn2Code has onboarded around 700 schools and 1,80,000 students up to now.