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Bengaluru Based Edtech Platform Tekie Acquired by Uolo Technologies
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CEO Insights Team, 0
Uolo previously raised $3 million in seed funding led by Blume Ventures in November 2020. It runs a parent teacher communication software and an enterprise
resource planning(ERP) management solution. Pandey said an estimated 120 million children attend India’s more than 400,000 private schools, and the company has onboarded 8,500 schools so far, with an aim to have around 50,000 schools on its platform by 2025. “The idea of Uolo is that we take edtech solutions to the masses in partnership with private schools. Technology in education can really do wonders but it is coming at very expensive prices. The cost of edtech solutions today is Rs.20,000-Rs.30,000 a year, but people do not have that much money to spend. It has to become more affordable and for that to happen, it has to be available through schools”, he said.
Founded by Mukund and Verma in 2017, Tekie offers schools a coding curriculum that works in over 100 schools. The startup’s investors included GSV Ventures, Multiply Ventures and Better Capital. GSV Ventures is also an investor in Lead School, which is one of the primary competitors of Uolo. “Once the schools are onboarded to a platform, they will need ed-tech products and solutions. Uolo has created a platform which 8,500 schools have boarded, and now what we’re doing is that we’re bringing on education products. Education products typically have long gestation periods. So, partnering or acquiring is a better strategy. We had partnered with Tekie earlier, and were working closely with them”, Pallav said, referring to the acquisition.
Once The Schools Are Onboarded To A Platform, They Will Need EdTech Products And Solutions
Founded by Mukund and Verma in 2017, Tekie offers schools a coding curriculum that works in over 100 schools. The startup’s investors included GSV Ventures, Multiply Ventures and Better Capital. GSV Ventures is also an investor in Lead School, which is one of the primary competitors of Uolo. “Once the schools are onboarded to a platform, they will need ed-tech products and solutions. Uolo has created a platform which 8,500 schools have boarded, and now what we’re doing is that we’re bringing on education products. Education products typically have long gestation periods. So, partnering or acquiring is a better strategy. We had partnered with Tekie earlier, and were working closely with them”, Pallav said, referring to the acquisition.