Times Internet-backed GetMyUni acquires edtech firm Avagmah
Jun 30, 2020
Bangalore based ed-tech startup GetMyUni has now acquired the online learning company Avagmah from AEON learning in an all-cash deal on the 18th of June 2020. Avagmah, founded in 2015, had now secured $5 million from marquee investors like Zodius Capital, Atul Nishar, MEMG, Lionrock Capital, before it merged with the Acadgild to form AEON Learning. “Since inception, we have always wanted to create impact at scale. Our core business of student acquisition for universities across India and abroad has grown over 200% since 2019. This acquisition allows us to complete the value chain for our users by directly impacting the content delivery part of the business too. After the lockdown, online learning adoption has surged and there are huge regulatory tailwinds which suggest that this would end up being a multi B$ market, very similar to how it has panned out OPMs like 2U in the west. This acquisition allows us to pursue our vision to make higher education accessible to everyone in India, irrespective of their financial status or access to traditional offline setup, wherein private education is too expensive and public, very average in outcomes,” said Upneet Grover, CEO, and Founder of Getmyuni.