Edtech platform Adda247 announced on Monday (June 19) that it has acquired Veeksha in an undisclosed deal. The acquisition aims to enhance Adda247’s offering by providing interactive learning modules to students.
Veeksha, founded in 2021 by Gaurishankar Singh, Hariprasad Bommidi, and Miral Songhela, is a product focused on 3D experiential learning. The platform specializes in producing interactive 3D simulations and AR/VR learning modules for mathematics and science.
With the merger, Veeksha will integrate into Adda247 and align its vision with the edtech platform. Veeksha’s immersive and experiential learning modules are cross-platform and can be utilized by both teachers and students. The company aims to create a learning system where students can engage with virtual labs and gamified experiences.
Adda247 stated that the acquisition will strengthen its position in catering to K12 and JEE/NEET aspirants by providing 3D/AR/VR-enabled learning tools. The edtech startup claimed a 30% increase in student engagement based on early data from students using the new content type.
Anil Nagar, founder and CEO of Adda247, expressed the company’s plan to simplify complex concepts through 3D visualizations, virtual experiments, and explanatory videos, ultimately aiding students in achieving better performance.
Gaurishankar Singh, co-founder of Veeksha, highlighted the potential of the partnership, stating that Adda247’s large user base combined with their ability to create 3D visualized content can lead to exciting advancements in education through AR/VR.
Adda247 boasts 50 million monthly active users and over 2 million paid users. The company last raised funding in October 2022, securing $35 million from investors such as Google, WestBridge Capital, Info Edge, and Asha Impact. Adda247 competes with prominent edtech players like BYJU’s, PhysicsWallah, and Unacademy.
Although Adda247’s revenue from operations grew to INR 61.5 crore in the financial year 2021-22 (FY22), representing a 1.6x increase from the previous year, its net loss soared more than 10 times to INR 157.8 crore during the same period.
Recent developments in the edtech sector include FrontRow’s search for acquisitions after substantial layoffs and PhysicsWallah’s announcement of acquiring a 50% stake in Kerala-based Xylem Learning to expand its presence in South India.
