Adda247 Acquires Veeksha to Enhance Test Prep Offerings and Expand AR/VR Capabilities
- ByStartupStory | June 19, 2023
Adda247, the edtech startup backed by Google, announced its acquisition of Veeksha, a 3D experiential learning-based product, on June 19. The move aims to bolster Adda247’s test prep offerings and further develop its augmented reality/virtual reality (AR/VR) capabilities. The undisclosed deal will see Veeksha being merged into Adda247.
Anil Nagar, founder and CEO of Adda247, expressed enthusiasm about the acquisition, stating, “We are working tirelessly to scale up our AR/VR capabilities and offer the best learning to the students coming to our platform. With Veeksha, we plan to simplify complex concepts into simple 3D visualizations, virtual experiments, explanatory videos and ultimately lead students to perform better.”
Founded in 2016 by Nagar and Saurabh Bansal, Adda247 specializes in providing preparatory courses for exams in public sector banks, government departments, and the Indian Railways. The company primarily caters to students from tier-two and lower-tier cities across India. It currently boasts 50 million monthly active users and over 2 million paid users.
Veeksha, based in Ahmedabad, is known for creating immersive 3D Mathematics and Science content tailored for digital learners. Their interactive and experiential learning modules are cross-platform, catering to both teachers and students.
The acquisition will enable Adda247 to offer enhanced interactive learning modules to its students, providing a deeper understanding of concepts through improved visualizations. Early data suggests that students using this new content type have experienced a significant increase of over 30 percent in engagement.
Gaurishankar Singh, co-founder of Veeksha, expressed excitement about joining forces with Adda247, stating, “We are excited to introduce the expertise of Veeksha to all content consumers in the educational institution space. Adda247’s large user base, along with our ability to create 3D visualized content, can pave the way for exciting advancements in education with AR/VR.”
Adda247’s recent activities have been capturing attention in the edtech space. Reports emerged that the company invested around Rs 100 crore to attract five teachers from PhysicsWallah, another WestBridge Capital-backed firm, to launch a new YouTube platform called Sankalp.
This development comes after PhysicsWallah acquired PrepOnline, a government job preparation platform, in October 2022, which coincided with Adda247’s core business focus.
In October of last year, Adda247 secured $35 million in a funding round led by WestBridge Capital, with participation from Google as a new investor, as well as existing investors Info Edge and Asha Impact.
This acquisition reinforces Adda247’s commitment to innovation in the edtech sector, leveraging AR/VR technology to enhance the learning experience for students and expand their test prep offerings.
As the funding landscape for edtech startups experiences a slowdown due to the reopening of offline classes, Adda247’s strategic moves position the company for continued growth and success.
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