Ed Tech Startup AEON Learning Bags Fund

Bengaluru-based AEON Learning Pvt. Ltd, which offers online degree programmes and skill development courses, has raised $3.2 million (Rs 20.43 crore) in a Series B round from MEMG Family Office LLP.

AEON will use the latest investments towards growing business from its university partnerships, and skill programmes. The startup expects to reach a student base of over 100,000 in the next five years. It currently operates in India and the US.

AEON Learning was founded by Karthik KS and Vikalp Jain. The company has a student base of 20,000 spanning 66 countries, and works with seven institute and university partners, 36 corporate partners. About 20% of its business originates from the US.

Aeon Learning came into existence in November 2017, following the merger of online education technology service provider Avagmah and online skill development course provider Acadgild.

Karthik KS, who is also the CEO of AEON Learning, said “The combined and complementary strengths of Avagmah and Acadgild have already positioned AEON learning at the forefront of the tech-enabled education revolution in India. With a proven track record of successful execution, we are now ready to scale up and serve more users with an integrated portfolio of technology skills and in-demand higher education courses.”

Pai, the CEO and managing director of MEMG “AEON Learning has the right product portfolio and a highly competent leadership team, which is making a difference in the evolving online education industry. The global online education market opportunity is huge, and we support AEON learning as they gear up to leverage this opportunity.”

AEON Learning has so far secured $6.5 million from marquee investors, including Infosys co-founder Kris Gopalakrishnan, Hexaware founder Atul Nishar, and Aptech Computer Education; besides Singapore based Lionrock Capital.