Indian EdTech startup- Scaler Academy has purchased online coding platform Coding Elements in an all-cash transaction for nearly USD 1 million (INR 8 crore).
Notably, the startup was in talks with Coding Elements for nearly a month as it seeks to extend a data science program to its users.
Founded in 2019 by Abhimanyu Saxena and Anshuman Singh, Scaler Academy aims at assisting working professionals to enhance their skills and subsequently grow in their careers.
To date, over 7,500 people have joined the startup’s novel educational initiative with nearly 50 instructors from different backgrounds.
According to Abhimanyu Saxena, there is a burgeoning demand for data science, however, there’s a vacuum concerning training programs that prepares people for jobs such as data scientist. The latest acquisition will help Scaler Academy to accelerate its data science offerings to users.
Established in the year 2017 as a coaching institute in Delhi providing computer science classes to its students, Coding Elements had to shut down its operations due to the coronavirus pandemic and shifted to online sessions.
Following its acquisition, all 4,000 students associated with Coding Element will continue studying on Scaler’s network.
Coding Elements provides courses in association with Niti Aayog- the Indian government’s policy think tank to more than 2 million students across 6,000 schools.
Bengaluru-based Scaler Academy has secured approximately USD 21.5 million or INR 156 crore in funds from marquee investors like Tiger Global, Sequoia India, Rocket Internet, and Global Founders Capital is seeking to include more acquisitions to its cap both in India and overseas.
Citing reports, Scaler Academy has earmarked nearly USD 8 million or INR 50 crore this fiscal year to support mergers and acquisitions.
Moreover, the company has made five integral leadership appointments to accelerate its business growth along with introducing Data Science and Machine Learning initiatives to expand its services.
Scaler has more than 500 employees and over 1,000 mentors on its platform that focus on bridging the technology talent gap in India.