One month after participating in Udacity’s $35 million Series C, German media company Bertelsmann takes another step to strengthen its e-learning portfolio as it announced the acquisition of Relias Learning from private equity firm Vista Equity Partners for an amount in the mid-hundreds of millions USD.
Osmo, a startup that connects physical games with an iPad experience, has raised a $12 million Series A led by Accel Partners with participation of Upfront Ventures and K9 Ventures. Accel Partners’ Rich Wong will join Osmo’s board of directors.
The Minerva Project, an edtech startup that aims to create a new breed of elite university, announced that it is in the process of raising a $70 million Series B from a Chinese investment consortium led by tutoring service provider TAL Education Group with participation of Yongjin Group and ZhenFund and its existing investor Benchmark Capital.
This round brings the total funding raised to $95 million. Benchmark Capital was the sole investor in Minerva’s $25 million round in April 2012.
Indian education service provider CL Educate, formerly known as Career Launcher, has filed papers for an IPO hoping to raise up to $40 million. The company was founded in 1994 and operates centers in Dubai and Abu Dhabi beside Northern India.
Pearson Affordable Learning Fund and Village Capital announced the thirteen participants of its edupreneurs program in Africa. Six of the participants come from South Africa, two from Tanzania, two from Nigeria, and one from Ghana, Kenya and Ethiopia respectively. The thirteen participants were selected out of 120 applicants from across the continent.
The startups will now participate in a mentorship program starting on October 16th. Two winners will be selected through peer review of the participants and will receive up to $75k in seed funding in January 2015.
Mumbai-based private equity fund Kaizen Management Advisors announced that it will invest $150 million in the education projects in India and South East Asia reports the Economic Times.
$75 million are going to be invested in the Indian education technology sector, the other $75 million in education projects in Singapore, Sri Lanka, Myanmar and the Philippines as Kaizen aims to expand into South East Asian markets through its second fund.
Last week Yahoo announced would shut down its vertical portal Yahoo Education on September 30th, followed by its legacy product Yahoo Directory at the end of the year. This, however, does not seem to affect the collaboration between Easyuni and Yahoo Malaysia who announced a partnership for a higher education portal back in May.
Chegg announced today that it has acquired the data and assets of Internships.com for $10 million in cash and $1 million in stock from CareerArc Group LLC.
Remind, formerly Remind101, raised a $40 million Series C led by Kleiner Perkins Caufield & Byers with participation by The Social+Capital Partnership and First Round Capital.
Founded in 2011 by the brothers Brett and David Kopf, Remind is one of the most successful edtech startups from imagine K12’s first cohort, closely followed by ClassDojo. This latest round brings the total of funding raised by Remind to $59.5 million.
During last week’s event on Multilingualism in Europe we were talking about trends in language learning that are driven by new technology, data and a new mindset when it comes to what learners expect these days.
Some of the key trends we see at EDUKWEST are around personalization, effectiveness and quicker results, trends that are also at the core of the edtech startup in today’s profile.