Edtech firm BrightChamps closes $63M round at a valuation of $500M

BrightChamps, an edtech platform for children to learn next-generation skills, today announced it has closed a $63 million (approximately Rs 467 crore) funding round after raising $51 million from Premji Invest, GSV Ventures, 021 Capital, and venture fund BEENEXT.

With this, the Singapore-based edtech is now valued at $500 million, according to founder Ravi Bhushan. BrightChamps, which inaugurated its operation last year, aims to teach kids programming and other skills in over 10 markets including several in Southeast Asia, the U.S., and Canada.

According to a statement, BrightChamps will utilize the raised capital to expand to other relevant verticals by launching more courses and will also look forward to acquiring new companies in adjacent markets.

“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 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," said Ravi Bhushan, founder & CEO at BrightChamps.

"In little over 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," T K Kurien, Ex CEO of Wipro and Managing Partner at Premji Invest, said.

“With its exceptional business growth and deeply passionate team of leaders and educators, 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 Binny Bansal, co-founder of Flipkart.

The startup claims that it has over 100K registered students that are spending more than 6 million minutes of live learning every month on the platform.

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