Hyderabad based Thinkcell Learning
Solutions Pvt. Ltd (formerly Gateforum Educational Services Pvt. Ltd) has
acquired Mumbai based Enabilon Learning Pvt. Ltd, which offers test preparation
packages through Testfunda.com for an undisclosed amount.
Testfunda.com focuses on the MBA
and bank test prep market. The platform claims to have over 6 lakh registered
users and 250 institutional partners. Earlier this month, Thinkcell acquired the
YUKTI brand to focus on the 12th board exams and engineering and medical
entrance exams like JEE, MHT-CET and AIPMT.
With the acquisition of
Testfunda.com, Thinkcell has now been structured into four verticals –
Gateforum for GATE Preparation, YUKTI for preparing students from 8-12 science
division for JEE and Medical entrance, Logiquest (Kaplan Certified Education
Partner) for GRE, GMAT, SAT, TOEFL, and USMLE, and Testfunda.com for online MBA
and bank test-prep market. Thinkcell is investing Rs 30 crore over two years
for diversification including acquisitions. Last year, private equity firm ASK
Pravi Capital Advisors had acquired a majority stake in Thinkcell.
With an increasing number of online
learning startups, the market has started to see signs of consolidation.
Several M&A have happened in the space over the last few months. In April,
online test platform Toppr had acquired EasyPrep, an online entrance exam
preparation platform. Same month, Singapore based XSEED Education Pte acquired
online learning management business of Pleolabs.
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