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 <li>
 
 Transfr introduced the Transfr SDK, a Unity-based low-code design tool for creating interactive XR training simulations, on its XR training platform.
 
 </li>
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 Initially available in a closed beta, the SDK enhances content development on the Transfr platform, used by thousands of students across the US.
 
 </li>
 <li>
 
 It allows developers and designers to contribute to XR-based education by offering interactive templates and a standardized UI/UX. Designed to be lightweight and scalable, the SDK incorporates best practices, including a coach system, for an efficient and standardized development workflow.
 
 </li>
 </ul>
 
 
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<div>
 
 <a href="https://www.businesswire.com/news/home/20231205468456/en/Transfr-Launches-its-SDK-to-Expand-the-Future-of-Learning-Through-XR-Training-Simulations">
 Press release
 </a>
 
 
 
</div>

EdTech: Corporate Learning

PROMINENT_CATEGORY

<div>
 
 Transfr has introduced a Unity-based low-code design tool called the Transfr SDK for creating interactive XR training simulations on its platform. Initially launched in a closed beta, the SDK aims to enhance content development for thousands of US students. The tool enables developers and designers to contribute to XR education via interactive templates and a standardised UI/UX. The SDK is designed to be lightweight, scalable, and incorporate best practices like a coach system for a standardised, efficient development workflow.
 
</div>

Transfr unveils Transfr SDK to improve education through XR training simulations

Remote learning is driving an education technology revolution.

EdTech: K-12

DISRUPTOR_PRESENT

<div>
 Funding
 <ul>
 <li><a href="https://sp-edge.com/companies/662653"> Transfr </a> secured USD 40 million in funding in a Series C round led by ABS Capital. JPMorgan Chase Impact Finance and Advisory along with existing investors also participated. Transfr plans to use the investment to expand its executive leadership team, scale its platform, and enhance its impact. (September 30, 2023; <a href="https://aithority.com/technology/transfr-closes-40-million-in-series-c-growth-funding-to-enable-career-mobility-for-undiscovered-talent-through-its-virtual-reality-platform/"> Press release </a> )</li>
 <li><a href="https://sp-edge.com/companies/376328"> Byju’s </a> faced rising interest rates on its USD 1.2 billion term loan B. Fidelity Advisor, part of the lending consortium, increased the rate to 15.5% from 7.01% in July 2022. Natixis, American Beacon Funds, and Oaktree also raised rates, creating financial challenges for Byju’s. (September 28, 2023; <a href="https://www.financialexpress.com/jobs-career/education-fidelity-hikes-interest-rate-on-byjus-1-2-billion-term-loan-3257175/"> Financial Express </a> )</li>
 </ul>
 M&amp;A
 <ul>
 <li><a href="https://sp-edge.com/companies/376328"> Byju’s </a> aims to streamline operations and achieve breakeven by March 2024 through organizational restructuring. The company plans to consolidate its entities, including Meritnation, TutorVista, Scholar, and HashLear, optimizing management bandwidth, and focusing on core areas like K-12, test prep, and online and hybrid education. Additionally, Byju’s is in talks with investors to hive off Epic as part of its cost-cutting measures. (October 01, 2023; <a href="https://www.businesstoday.in/entrepreneurship/start-up/story/byjus-targets-march-for-break-even-epic-to-be-hived-off-report-400344-2023-10-01"> Business Today </a> )</li>
 <li><a href="https://sp-edge.com/companies/494639"> West Technology Group </a> completed the sale of its SchoolMessenger business to PowerSchool for USD 300 million. The company intends to use the net proceeds from the sale to repay debt and for general corporate purposes. (October 03, 2023; <a href="https://www.globenewswire.com/en/news-release/2023/10/03/2753746/25418/en/West-Completes-Sale-of-SchoolMessenger-to-PowerSchool.html"> Press release </a> )&nbsp;</li>
 <li><a href="https://sp-edge.com/companies/376328"> Byju's </a> plans on rebranding its subsidiary WhiteHat Jr as "Byju’s Future School" and integrating its assets into various business verticals. By rebranding WhiteHat Jr as Byju’s Future School, the company aims to streamline its offerings and integrate assets efficiently. (September 27, 2023; <a href="https://www.thehindubusinessline.com/news/education/whitehat-jr-to-be-rebranded-byjus-future-school-amid-cash-crunch/article67353454.ece"> The Hindu </a> )&nbsp;</li>
 <li><a href="https://sp-edge.com/companies/39771"> Instructure </a> acquired credentialing platform Parchment in a deal valued at USD 835 million. By integrating Parchment's expertise, Instructure aims to expand its market reach, establish crucial relationships with new clients, and secure a high-quality revenue stream. (October 30, 2023; <a href="https://marketbrief.edweek.org/marketplace-k-12/k-12-dealmaking-pathwayos-acquired-discovery-completes-deal-buy-dreambox/"> Market Brief </a> )&nbsp;</li>
 </ul>
 Product update
 <ul>
 <li><a href="https://sp-edge.com/companies/58895"> Stride Tutoring </a> expanded its services to include elementary school students. The company now serves students in grades K–12. (October 02, 2023; <a href="https://www.businesswire.com/news/home/20231002268643/en/Stride-Tutoring-Expands-to-K-12-Providing-One-on-One-Support-to-All-Students"> Press release </a> )&nbsp;</li>
 <li><a href="https://sp-edge.com/companies/897104"> Harappa Education </a> introduced 'thriveBOT,' an AI chatbot designed for English, Hindi, and 'Hinglish' languages. thriveBOT is an AI chatbot developed in-house using OpenAI's API and content from Harappa's courses. It aims to enhance the learning experience on Thriversity, Harappa's online skills library. (October 03, 2023; <a href="https://www.passionateinmarketing.com/upgrad-harappa-transforms-online-learning-with-multilingual-thrivebot-finetuned-for-hindi-hinglish/"> Passionate in Marketing </a> )</li>
 </ul>
 Partnerships
 <ul>
 <li>Khanmigo, an AI offshoot of <a href="https://sp-edge.com/companies/66194"> Khan Academy </a> partnered with Intel for an education funding initiative in Ohio. Khanmigo offers an AI tutoring chatbot for math and science and a teaching assistant tool for educators. Intel has committed USD 300,000 for a pilot program in Ohio schools, funding Khanmigo's AI tutoring chatbot and teaching assistant tools. The program aims to enhance STEAM education in Ohio schools. (September 29, 2023; <a href="https://www.nbc4i.com/intel-in-ohio/intel-details-latest-k-12-education-initiative-in-ohio/"> NBC 4I.com </a> )</li>
 <li><a href="https://sp-edge.com/companies/773262"> Inspirit </a> partnered with EdTech company Snap to integrate AR technology into classrooms for STEM lessons. They are collaborating to develop 25 AR Lenses and STEM curriculums. The initiative aims to enhance learning experiences, boost engagement, and improve memory and retention among students. (October 18, 2023; <a href="https://techcrunch.com/2023/10/18/snap-partners-edtech-company-inspirit-bring-ar-tech-50-us-schools/"> TechCrunch </a> )&nbsp;</li>
 </ul>
 Management news
 <ul>
 <li><a href="https://sp-edge.com/companies/376328"> Byju’s </a> CFO Ajay Goel announced his resignation and will leave the company after completing the audit formalities for the financial year ended March 2022. Byju’s has appointed Pradip Kanakia as a senior advisor and elevated Nitin Golani, the current president of finance, as its new CFO. (October 24, 2023; <a href="https://techcrunch.com/2023/10/23/byjus-cfo-quits-in-six-months-delayed-accounts/"> TechCrunch </a> )</li>
 </ul>
 Geographical expansion
 <ul>
 <li><a href="https://sp-edge.com/companies/509047"> Elevate K-12 </a> expanded its presence in Iowa by partnering with 15 newly signed school districts. The expansion supports Elevate K-12's mission to address the ongoing teacher shortage crisis by offering LIVE teaching in core academic subjects and relevant electives. (October 17, 2023; <a href="https://www.prweb.com/releases/elevate-k-12-expands-in-iowa-as-it-bring-its-high-quality-live-teaching-to-more-schools-around-the-united-states-301959017.html"> Press release </a> )&nbsp;</li>
 </ul>
 Industry news
 <ul>
 <li>A lender-appointed receiver, Kroll, took control of <a href="https://sp-edge.com/companies/376328"> Byju’s </a> unit, Great Learning Education, in Singapore due to failed negotiations and breached covenants on a USD 1.2 billion loan. Kroll appointed restructuring experts Cosimo Borrelli and Jason Aleksander Kardachi to safeguard the charged assets and oversee the company's affairs following the defaults by Byju

Monthly News Summary (October 2023)

Virtual reality (VR) training provider, Transfr, has raised $40 million in a Series C funding round led by ABS Capital. The funds will be used to hire new executives, expand the platform, and develop new training simulations. The latest investment brings the total funding for Transfr to over $90 million since its inception in 2017.

Transfr secures USD 40 million in growth funding round

Technologies bringing about a new reality

Extended Reality

Middle-skilled careers training platform Transfr has raised USD 40m in a Series C funding round led by ABS Capital. The investment will be used to further develop Transfr's virtual reality (VR) simulation and training platform, including creating new modules, adding features to existing ones, and introducing training in Spanish. Transfr's platform offers over 300 VR simulations focusing on careers that do not require a four-year degree, covering sectors such as automotive, aviation, construction and healthcare. The latest funding brings the total raised by Transfr to over USD 90m since its founding in 2017.

All Updates

Transfr unveils Transfr SDK to improve education through XR training simulations

Monthly News Summary (October 2023)

Transfr secures USD 40 million in growth funding round

VR training platform Transfr raises USD 40 million in Series C funding

Transfr VR raises USD 35 million in Series B funding

Transfr VR raises USD 35 million in Series B funding for expansion

Transfr VR raises USD 35 million in Series B funding for expansion