AEON Learning Pvt. Ltd, which owns
education technology platform Avagmah has bought Bengaluru based education
start-up Acadgild for $10 Million in an all-stock deal.
Avagmah is a start-up focused on
online degrees and skill development programmes. It claims to have 22,000
students across 66 countries, and has partnerships with more than seven
institutes and universities. Acadgild offers skill-based technology
courses in big data, deep learning and UI/UX design web development, among
others. It works with businesses to offer around 35 skill development courses.
Acadgild had raised initial
investment from venture capital firm Jupiter Capital and K. Ganesh of
GrowthStory. It works with companies like General Electric, Capgemini,
Cognizant Technology Solutions, and Oracle Corporation. Currently,
around half of AEON Learning’s online students come from Tier-1 and Tier-2
cities like Pune, Hyderabad, Bengaluru and Delhi-NCR, Karthik added. The
company has raised $6.5 million till date and expects to reach a student base
of over 100,000 in the next five years.
According to a KPMG-Google, the
online higher education market is expected to touch $1.96 billion by 2021.
Re-skilling and online certification courses currently account for a majority
(38%) of the online higher education market, the report added. There has also
been a surge in investments in the online education sector, with online skill
training start-ups shifting focus from a university-based curriculum to a more
industry-oriented training approach.
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