B2B edtech platform Uolo, on Wednesday announced the acquisition of coding tutoring platform Tekie for an undisclosed sum. The transaction is an equity swap between the company and Tekie’s investors which includes GSV Ventures, Multiply Ventures and Better Capital.
The deal will help Uolo to expand its learning offerings for school-going learners. This acquisition is in line with Uolo’s vision to take edtech to masses in partnership with K-12 schools, the company said in a release.
“Uolo will introduce the Tekie program in schools that are already using its school management platform,” said Pallav Pandey, co-founder and chief executive.
Founded in 2013, Uolo claims to be developing online capabilities of its partner private schools. The Gurugram-based company says it provides affordable programs aligned with school curriculums. Its open architecture platform allows third-party education publishers and content creators to develop physical learning programs designed for K-12 schools and students.
In December last year, Uolo had raised $22.5 million in its Series A funding round led by UAE-headquartered venture capital fund Winter Capital, along with participation from existing investors Blume Ventures and Dubai-based fund Morphosis Venture Capital. It had also raised seed funding of Rs 20 crore led by Blume Ventures in November 2020.
So far, Uolo has partnered with more than 8,500 schools in India. It claims that it currently caters to more than 3.7 million students across the country. It offers learning programmes in coding and English speaking, and plans to introduce more programs across Steam (science, technology, engineering, and mathematics) subjects in the coming months.
On the other hand, Bengaluru-based Tekie provides coding tutoring via a combination of animated storytelling and practise sessions in computer labs. It teaches coding programmes related to computer languages such as HTML, Java, and Python. These programmes are run by school teachers trained by the company. It also exposes learners to tech tools such as Figma and Canvas and also introduces topics such as artificial intelligence and blockchain. It claims to have partnered with more than 100 schools in India.
Tekie, which was founded by Naman Mukund and Anand Verma, had raised $1.5 million in its seed round co-led by GSV Ventures and Multiply Ventures in March 2021.
