ImaginXP, an education-technology company that focuses on helping universities provide degree programmes, has acquired another edtech firm, it said on Tuesday.
The acquisition of Noesis Learning – which took place for an undisclosed amount – will help ImaginXP accelerate its digital-first higher education model. It will also bring Noesis Learning’s team to help increase the pace of adoption for online learning.
The development comes a week after ImaginXP raised $1.5 million (nearly Rs 11 crore) in a fundraising exercise led by startup incubator and accelerator Venture Catalysts. Other participants included Samyakth Capital, Krish Kupathil, and Shashank Deshpande.
Noesis Learning, operated by Noesis Learning Pvt Ltd, was set up by Ajay Kumar. The company’s platform, ‘Schoolsonweb’, helps schools with aspects such as live learning, assessment automation, and doubt clearing.
Other participants include ah! Ventures, We Founder Circle, and Instarto, Gurugram-based Stylework said in a statement.
Angel and high net-worth individuals also participated in this round, including Rachit Poddar from Marwari Venture Catalysts, former Reliance executive Anil Gupta, and GridLines CEO Sunaina Gera,
Stylework, operated by Stylework Innovation Hub Pvt Ltd, was set up in 2017 by Sparsh Khandelwal. The company says it offers flexible co-working spaces across more than 800 locations, with an inventory of 1.5 lakh seats. Its client base includes more than 120 corporates and 3,000 startups and freelancers.
The company will use the capital it has raised to expand its network to Tier-I cities including Bengaluru, Mumbai, Hyderabad, Pune, and Chennai.
It will also use a portion of this round to enhance its technological infrastructure and boost product and market growth.