K-12 Dealmaking: TinyTap Raises $8.5 million; Class Technologies Completes Acquisition
Israel-based ed-tech startup TinyTap has secured an $8.5 million funding round, which it will use for staff expansion and product development, the company announced.
Founded in 2012, TinyTap provides user-generated educational content, with a focus on Web3 and blockchain technology, including non-fungible token collections.
The company was acquired by Animoca Brands in 2022, which paid $38.8 million in June for an 80.45 percent stake in TinyTap.
Sequoia China, Shima Capital, Polygon, Liberty City Ventures, Kingsway Capital, and GameFi Ventures are among the backers for the company’s latest funding round.
Technology and services company acquired. Class Technologies has acquired CoSo Cloud, a technology and services company that provides secure private cloud managed services, custom software applications, and professional services for high-consequence virtual meetings and online learning.
Class Technologies specializes in synchronous virtual classrooms. This acquisition expands its team of technologists, compliance experts, and education experts that will serve more than 10 million users representing more than 1,500 institutions worldwide.
CoSo will operate as a wholly owned subsidiary of Class. The terms of the deal were not disclosed.
Ed-tech startup completes third purchase. BrightChamps has acquired India-based Metamorphosis Edu in a cash and equity agreement. The terms of the deal were not disclosed.
This represents the third purchase for ed-tech startup BrightChamps, which has provided services in coding, robotics, financial literacy, and communication skills for students since 2020.
Metamorphosis Edu, created in 2020, trains students across India in entrepreneurship-related skills.
This acquisition brings BrightChamps to the B2B market. The company’s B2B vertical will be led by Metamorphosis Edu founder Pavan Allena under the direction of chief financial officer Amit Kumar.
Neither side has made layoffs. Twenty-two people work for Metamorphosis Edu, excluding the 40 to 50 teachers who serve as consultants. BrightChamps has 3,000 total employees, including consultants, in addition to 700 full-time employees.
BrightChamps announced plans in June 2022 to complete $100 million worth of mergers and acquisitions through stock and cash transactions. The business stated in February 2022 that it had paid cash and stock to acquire Education10x, a platform for teaching children financial literacy.
In August 2022, it also paid $15 million in cash and equity to purchase Schola, a live learning platform for children situated in Singapore.
The company has a $650 million valuation and $63 million in total investment.
Ed-tech startup completes seed investment round. Portguese ed-tech startup Miles in the Sky has raised a seed investment round of 1.5 million euros, equivalent to about $1.65 million. The round was led by Armilar Venture Partners, a Portuguese venture capital firm.
The funds will be used to accelerate the development of the platform.
Miles in the Sky was founded by Paulo Silva, Francisco Martins, Pedro Santa Clara, Ricardo Pereira, and Luis Miguel Sous in 2021. The company provides customized learning experiences with a focus on closing skill gaps, scaling delivery, and increasing engagement.
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