Edtech service provider Schoolnet on Tuesday said that it acquired private school-focused artificial intelligence (AI) edtech company Genius Teacher in an all-stock deal for an undisclosed multi-million dollar valuation.
Schoolnet acquires private school-focused AI edtech firm Genius Teacher
Edtech service provider Schoolnet on Tuesday said that it acquired private school-focused artificial intelligence (AI) edtech company Genius Teacher in an all-stock deal for an undisclosed multi-million dollar valuation.
With this acquisition, Schoolnet gets Genius Teachers’ private school market presence and innovative AI-led teacher and student apps along with growing its reach to over 10,000 private schools by FY27.
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“With most companies bleeding investor money and still nowhere close to profitability, Schoolnet is an inspiration of a Make in India company and has created a huge impact in the lives of millions of teachers and students,” Advitiya Sharma, CEO & Founder of Genius Teacher, said in a statement.
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Schoolnet operating at scale with a revenue of Rs 429 crore and EBITDA of Rs 69 crore for FY24, the company mentioned. It provides schools with its smart-class solution and AI Apps ecosystem to improve student learning outcomes.
“We worked with Genius Teacher for more than 1 year and were impressed by their A+ Team and AI Tech capabilities, confident that they will strongly support us in our next phase of growth,” said R.C.M. Reddy MD, CEO of Schoolnet India.
Genius Teacher founded by 3 IIT Bombay graduates – Sharma, along with co-founders Shashank Pachore and Ruturaj Atre – impacts nearly 2.5 million students currently, encompassing CBSE, ICSE, and 5 state boards syllabi.
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