BrightCHAMPS

Founded in 2020 by Ravi Bhushan, BrightCHAMPS is an Indian company that provides supplementary curricula to schools, educators, and parents, which include certificate-based classes focused on coding, creative thinking, social collaboration, Industry 4.0 concepts, and scientific experiments for K-12 students. Each curriculum is offered in multiple local languages and varying depth based on the student's grade. As of October 2021, the company reported that it had served over 1,000 teachers and 100,000 students, with over six million minutes spent on the platform.

In February 2023, the company introduced its hybrid model for learning life-skills, named the BrightCHAMPS Next-Gen Hub, in Vietnam. The company planned to establish similar hubs in significant urban areas of India, Indonesia, and the UAE over the next two years.

The company also strengthened its product portfolio with key acquisitions. In February 2022, the company acquired fellow Indian company Education10x, a financial literacy education platform for children, in a cash and stock deal. The acquisition allows BrightCHAMPS to provide an all-inclusive solution for skills development for children in the K-12 space. Following the acquisition, BrightCHAMPS intends to launch Education10x globally, launch cryptocurrency and entrepreneurship courses, expand the team, and continue product development. The company announced in June 2022, that it planned to invest USD 100 million to acquire companies across the US, UK, India, South East Asia, and the Middle East and North Africa (MENA) in FY2023. Following this, the firm acquired Schola, a Singapore-based English as a second or foreign language (ESL) solution provider, in August 2022 to strengthen its suite of K-12 solutions and expand its market presence. In April 2023, the firm acquired Metamorphosis Edu, an Indian firm that collaborates with schools to teach children entrepreneurship-related skills and the National Education Policy. It also planned to consolidate all its product lines into a single platform and establish labs in schools while providing teachers with curriculum training.

Funding and financials

In November 2021, BrightCHAMPS raised USD 51 million in funding led by Premji Invest, at a valuation of USD 500 million. The funds will be used to expand the company's employee base across multiple functions, as well as expand its presence in over 10 international markets including the Middle East, Singapore, Indonesia, the US, and Canada. Additionally, the company planned to launch a peer-to-peer experience product vertical, add financial literacy programs to the curriculum, and open a “center of excellence” in Bengaluru.

For FY2022, the company reported an 11.3x increase in operating revenue to INR 225 million (~USD 2.8 million). This growth was primarily driven by the sale of services. However, the startup's standalone loss increased by 28x YoY to INR 987 million (~USD 12.1 million) in FY2022, mainly due to a significant rise in expenses.