Edtech startup BrightChamps on Monday announced that it has raised $63 million in fresh funding from reputed names like Premji Invest and Flipkart's Binny Bansal. The company has now reached a valuation of nearly $500 million in a little over a year. Premji Invest is Wipro Founder Azim Premji's investment office and Binny Bansal is the co-founder of Flipkart.
Apart from Premji Invest and Flipkart's Bansal, US-based GSV Ventures and Singapore-based venture fund Beenext also participated in the funding round.
BrightChamps is a live learning platform that offers next-generation life skills and was founded in July last year by Ravi Bhushan. It offers programming, artificial intelligence (AI), design thinking, and financial literacy for children of the 6-15 age group.
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"We felt that there is an immense need for a unique curriculum which can fill the gaps in the current education system while aligning with a child's learning abilities as per their necessity of the age," Bhushan said.
The startup said it has managed to reach over 10 countries with an outstanding booking run rate.
Currently, over 100,000 registered students are spending more than 6 million minutes of live learning every month on the platform.
"Brightchamps is well-positioned to emerge as a global leader in the edtech industry. Their meticulously-curated curriculum and blended approach are designed to spark scientific curiosity and exploration in early learners, allowing them to master new-age skills at their own pace," said Bansal.
The startup plans to utilise the funds to hire across major functions such as product, technology, operations and more.
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"In little over a year, Brightchamps has established itself as one of the fastest growing edtech companies in the markets that it serves in," said TK Kurien, ex-CEO of Wipro and managing partner at Premji Invest.
