Edtech firm Educational Initiatives (Ei) has announced the completion of its acquisition of learning platform Open Door Education for an undisclosed amount.
Founded in 2001, Bengaluru-based Ei has built tools to measure and improve learning outcomes of students through Ei ASSET, Ei Mindspark, and Ei CARES. Ei works on a business-to-business (B2B) model and has about 1,000 schools on its network.
“Our mission is to see a world where children are learning with understanding and by asking better questions,” said Pranav Kothari, chief executive, Ei. “So, we make good questions for grades 1 through 10 for K-12 schools. Every year, more than half a million students take these tests.”
Ei will utilise Open Door Education’s tech and tools, which have a thinking-focused approach to enhance learning in the schools.
Founded in 2013 by IIT Madras alumni Abhishek Kariwal and Aneesh Bangia, Open Door Education has 150 schools in its network and 40 employees. Post the acquisition, these network schools and employees will be a part of Ei.
For FY25, Open Door Education’s revenue was Rs 10 crore and Ei’s was Rs 150 crore, according to Kothari. “In FY21, Ei was at Rs 42 crore, and since then we have grown at a compound annual growth rate of 30% to reach Rs 150 crore in FY25,” he told ET.
“About 20% of our revenues also come from the UAE, and we have a presence in South Africa, Qatar, and Kuwait too,” said Kothari.
In August last year, ET reported that HCL Group had invested Rs 166 crore to acquire a minority stake in Ei as part of a secondary stake sale. HCL Group acquired a portion of the stake in Ei held by Mumbai-based private equity firm Gaja Capital.
Earlier in May, professional education firm Imarticus Learning acquired edtech startup MyCaptain for Rs 50 crore to expand its presence in the non-tech career learning segment.
In the first half of this year, edtech firm PhysicsWallah was evaluating acquisitions to strengthen its presence in the Union Public Service Commission (UPSC) test preparation segment, ET reported in April. In 2023, PhysicsWallah acquired the artificial intelligence-based platform Xylem Learning for entrance exam preparation.
In 2023, edtech firm Lead acquired the K-12 India business of British educational services company Pearson.
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Founded in 2001, Bengaluru-based Ei has built tools to measure and improve learning outcomes of students through Ei ASSET, Ei Mindspark, and Ei CARES. Ei works on a business-to-business (B2B) model and has about 1,000 schools on its network.
“Our mission is to see a world where children are learning with understanding and by asking better questions,” said Pranav Kothari, chief executive, Ei. “So, we make good questions for grades 1 through 10 for K-12 schools. Every year, more than half a million students take these tests.”
Ei will utilise Open Door Education’s tech and tools, which have a thinking-focused approach to enhance learning in the schools.
Founded in 2013 by IIT Madras alumni Abhishek Kariwal and Aneesh Bangia, Open Door Education has 150 schools in its network and 40 employees. Post the acquisition, these network schools and employees will be a part of Ei.
For FY25, Open Door Education’s revenue was Rs 10 crore and Ei’s was Rs 150 crore, according to Kothari. “In FY21, Ei was at Rs 42 crore, and since then we have grown at a compound annual growth rate of 30% to reach Rs 150 crore in FY25,” he told ET.
“About 20% of our revenues also come from the UAE, and we have a presence in South Africa, Qatar, and Kuwait too,” said Kothari.
In August last year, ET reported that HCL Group had invested Rs 166 crore to acquire a minority stake in Ei as part of a secondary stake sale. HCL Group acquired a portion of the stake in Ei held by Mumbai-based private equity firm Gaja Capital.
Earlier in May, professional education firm Imarticus Learning acquired edtech startup MyCaptain for Rs 50 crore to expand its presence in the non-tech career learning segment.
In the first half of this year, edtech firm PhysicsWallah was evaluating acquisitions to strengthen its presence in the Union Public Service Commission (UPSC) test preparation segment, ET reported in April. In 2023, PhysicsWallah acquired the artificial intelligence-based platform Xylem Learning for entrance exam preparation.
In 2023, edtech firm Lead acquired the K-12 India business of British educational services company Pearson.
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