Vedantu to take majority stake in Deeksha for $40 million
Vedantu, a pioneer in LIVE online learning in India, today, announced that they have bought a majority stake in Deeksha (Ace Creative Learning Pvt. Ltd) - a leading test preparation platform in Karnataka for board and competitive exam coaching for students of grade 11th and 12th. With majority stake in the strategic investment, this partnership has been closed at a deal size of $40 million. Since 1998, Deeksha has created over 65,000 success stories through its 39 centers, across 3 states. This partnership seeks to leverage Vedantu`s technology and integrate it into offline centers to create a scalable hybrid model which provides access to quality teaching even in remote Tier 3 and Tier 4 towns at affordable cost.
This initiative will further support Deeksha’s pioneered learning model that specializes in competitive exam prep in sync with board exam prep through collaboration with schools and colleges. Leveraging Vedantu’s industry-best online learning innovation and Deeksha’s massive offline footprint, both partners envision digitizing classrooms in Tier 3 and Tier 4 cities where quality education is not accessible and bring forth immersive learning experiences to students. Together Vedantu and Deeksha will revolutionize the way education is imparted, improve the quality of the learning system as a whole, and help students to achieve their true potential with outstanding learning outcomes.
Vamsi Krishna, CEO, and Co-Founder, Vedantu said, "At Vedantu, we have always been committed to make quality education accessible and affordable to students from all corners of the country. With this acquisition, our mission is to empower and scale Deeksha’s current learning model by deploying our disruptive in-house hybrid technology to reach the masses in remote areas and create impact at scale. This culmination of online and offline capabilities will help us expand our hybrid learning initiatives. We endeavor to change India’s learning curve through definitive outcomes at the back of our strong passion for delivering quality learning. This impact will be possible because of the shared vision, mission, values, and culture of our two organizations.”
Dr. Sridhar, Co-Founder, Deeksha said, “Deeksha has always believed in Nurturing Success of Every Child through a Triple Integration Model that amalgamates Wellness, Academics and Technology. Through this partnership, we will leverage Vedantu’s LIVE Class platform for our students and provide a hybrid solution that maximizes learning outcomes through personalized learning algorithms. Vedantu’s hybrid learning model will also enable us to provide the same “Deeksha Experience” to millions of students in smaller towns and cities at an affordable cost.”
With this strategic investment, Deeksha will bring in close to 13K of its students to Vedantu's platform. In addition, Deeksha will leverage Vedantu's already existing strong credentials in LIVE Classes, educational technology, and strong pedagogical content.