Edtech startup BrightChamps has raised $51 million in a new financing round valuing the company at a whopping $500 million, bringing its total funding to $63 million since its inception in July last year.
The new financing round was led by Premji Invest (the private investment office of technology billionaire Azim Premji), and saw participation from edtech focused investment company GSV Capital, Singapore-based Beenext and Binny Bansal-backed 021 Capital.
BrightChamps offers online courses on programming and artificial intelligence among others for the K12 education segment.
The company earlier raised funds from GSV Ventures and has built its presence in South-East Asian geography. With the new funding, the edtech startup plans to expand to other markets like the U.S. and Canada, with relevant verticals by launching more courses. It is yet to offer paid courses in India.
In a press statement, Ravi Bhushan, the founder and CEO at BrightChamps, said, "We felt that there is an immense need for a unique curriculum which can fill the gaps in the current education system while aligning with a child's learning abilities as per their necessity of the age. We have been stunned with the love we have received so far from parents and students across different countries."
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