B2B edtech startup Uolo has acquired the online education platform Tekie for an undisclosed sum. The acquisition will help Uolo to offer affordable learning programs to school students.
The development comes nearly a month after Uolo raised $22.5 million in a Series A funding round led by VC fund Winter Capital. Blume Ventures and Morphosis Venture Capital also participated in the funding round.
Founded in 2013 by Pallav Pandey, Ankur Pandey and Siddharth P. Singh, the edtech startup offers online coding and English language courses. It works with private schools and helps them develop online options.
Pallav Pandey, Co-Founder and CEO of Uolo, said, “We are excited to announce the acquisition of Tekia, one of the best coding platforms developed for school students in India. Uolo will introduce the Tekie program to schools that are already using its school management platform.”
Pandey added, “The Tekie team’s sense of creating world-class coding curricula for schools is unparalleled and we look forward to working closely with them. We believe the acquisition of Tekia furthers our mission to bring modern, high-quality edtech programs to the masses.”
The startup said its free mobile app enables the communication between the school and parents. Through their app, schools offer hybrid learning programs to students. Uolo claimed to work with more than 8500 schools and 35 Lakh students across the country.
Tekie is an edtech startup founded in 2017 that offers online coding courses to students. It educates students through animated storytelling and hands-on exercises in computer labs.
Explaining its business model, the Bengaluru-based startup said that it teaches school students HTML, Java and Python programming with the help of relevant technologies. It also enables students to learn using new-age technology tools such as Figma and Canvas, among others, and further introduces them to artificial intelligence and blockchain. In India, Uolo faces competition from Eupheus Learning and Teachmint, among others.
According to a report, India’s edtech sector is the worst-hit segment in FY23 due to various factors such as a downward market trend, the opening of schools and colleges, low investor sentiment and global disruption.
As a result of these factors, edtech startups have taken drastic decisions, such as downsizing their businesses and laying off more than 7,500 full-time and contract employees in 2022.
On the other hand, edtech startups – Lido Learning, Crejo.Fun, Udayy, Qin1, and SuperLearn – did not survive the funding winter and ceased operations permanently in 2022.