Sixth Sense Ventures’ second domestic fund has made its first investment, a top executive of the consumer-focused venture capital firm told VCCircle.
Founder and chief executive Nikhil Vora said his firm has backed Delhi-based Eupheus Learning, which develops textbooks and their digitised versions to integrate class and home learning.
Sixth Sense has picked up a significant minority stake in the company, said Vora, not disclosing the investment amount. He added that he has joined the board of Eupheus as part of the transaction.
Commenting on the investment, Vora said, “We like the edu-tech space as it offers perpetual demand.
We like Eupheus because of its strong and experienced promoter backing and it being the only unique player to have seamlessly integrated class-learning and home-learning solutions.”
Eupheus, operated by Proficiency Learning Solutions Pvt. Ltd, claims to have presence in over 1,500 schools.
The clientele list includes Narayana Group of Educational Institutions, GD Goenka Group, and Delhi Public School Society.
Eupheus currently offers textbooks in 10 subjects (English, maths, general knowledge, environmental science, and others) for students of classes one to eight. It offers the same textual content in digitised version. The ed-tech firm seeks to develop its offerings in terms of subjects and classes both.
The services are offered on a subscription basis, and the solutions can be bought in a bundle or as standalone units.
“We have a readiness of will for learning solutions and with Sixth Sense this shall get further sharpened for curated solutions, which shall serve the fundamental needs of Indian K-12 space
(kindergarten to class 12),” said Sarveshwar Shrivastava, co-founder of Eupheus.
The company has in the recent past partnered several global institutions to bolster its presence in the K-12 learning space, such as World Book Inc., RoboGarden Inc., Sanako, Fiction Express and Primo Toys.
Eupheus founders, around 40 people, including the founders, Shrivastava, Rohit Dhar, Ved Prakash Khatri and Amit Kapoor, moved out of global education company Encyclopaedia Britannica and invested out of their pockets to launch the venture, Eupheus, in June 2017.
Shrivastava, a graduate of University of Illinois, had worked with General Electric, Corning, Telecom Australia, NIIT, Pearson and Encyclopaedia Britannica before launching the venture.
Dhar started his career as a teacher after completing his post-graduation in 1988 and was Shrivastava’s colleague in Encyclopaedia Britannica. Khatri has over two decades of experience as sales executive in the K-12 publishing industry space. He has been associated with publications such as Ratna Sagar and Oxford in the past. And Kapoor, a graduate of TA Pai Management Institute, earlier held the position of director, digital sales, at Encyclopaedia Britannica South Asia.