Edtech firm Schoolnet has acquired Genius Teacher, a startup founded by Advitiya Sharma of Housing.com, in an all-stock deal. This acquisition is part of a broader trend of consolidation in the edtech sector, with recent notable acquisitions including Adda247 acquiring Ekagrata Eduserv and Allen Career Institute acquiring Doubtnut.
Genius Teacher, known for its quiz-based e-learning platform focused on K-12 education, brings its AI-driven teacher and student apps to Schoolnet. This move aims to expand Schoolnet’s presence in the private school market, targeting over 10,000 schools by 2026-27.
Following the acquisition, Advitiya Sharma will join Schoolnet as Chief Growth Officer, alongside co-founders Shashank Pachore and Ruturaj Atre, and their team of 20 employees.
Schoolnet reported a revenue of Rs 429 crore for 2023-24, with plans to increase it to Rs 550 crore this fiscal year. CEO RCM Reddy highlighted a strategic shift towards less dependence on government funding, expecting private schools to play a more significant role in revenue generation.
The edtech sector, including players like Lead and Uolo, continues to witness consolidation despite market challenges. Byju’s, a major player in edtech acquisitions, faced legal issues but had previously invested significantly to expand its educational offerings.
