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Edtech co Veranda acquires upskilling platform Edureka for Rs.245-Cr
The Kalpathi AGS Group-owned edtech firm Veranda Learning Solutions has acquired Bengaluru-based edtech platform Edureka for INR 245 crore. Founded in 2011 by Lovleen Bhatia, Kapil Tyagi and Vineet Chaturvedi, Edureka offers live online classes based upskilling programmes for working professionals in the IT industry. The company partners with Indian institutes such as IITs, NITs as well as international universities to offer training in cloud computing, DevOps, AI-ML, data science, web development, cybersecurity, and other emerging technologies in addition to its own library of training resources. Veranda had earlier acquired RACE coaching institute for a transaction valued at over INR 100 crore. It is planning an outlay of around USD 100 million for acquisitions over the next 6 months to seize more opportunities.
From the Venture Intelligence PE-VC Deal Database: In Mar-2018, Edureka had raised USD 2 M from Leo Capital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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