Indian edtech Vedantu has acquired a majority stake in education chain Deeksha for $40 million, the latest in local online learning platforms’ growing attempts at tapping opportunities in the offline market.
The Bengaluru-headquartered Vedantu, which became a unicorn last year, said it will integrate its technology into offline centers of Deeksha as part of the strategic partnership to create a “scalable hybrid model.” Deeksha is a 22-year-old institution that operates 39 physical centers in three Indian states.
Vedantu began experimenting with offline experience earlier this year and said in Deeksha, it found the right partner to maker deeper inroads in smaller Indian cities and towns. In an interview with TechCrunch, Vedantu co-founder and chief executive Vamsi Krishna said he has been tracking Deeksha for 10 years and when they began exploring synergies together, it became clear that the two will immensely benefit from the partnership.
Deeksha’s current topline revenue is
