New Delhi, [India], March 13 (ANI/SRV Media): India's fastest growing accelerator platform, Marwari Catalysts Ventures has always set its eyes on the booming sector of our country - Ed-Tech. It has passionately supported dozens of Ed-Tech startups since its initiation and today one of its portfolio startups, 'Noesis Learning' is making big headlines as India's leading and successful higher education start-up.
The acquisition of Noesis Learning Pvt Ltd founded in 2019 by Ajay Revalia and Pallavi Singla is to bring an experienced team at 'ImaginXP' for accelerating the adoption of online learning in the higher education space.
In today's time, the Ed-Tech industry is one of the few industries for which the effect of the 'COVID-19 Pandemic' has brought a lot of positivity.
This slow-growing industry is witnessing an impressive growth spurt because of the revolutionary changes in our educational system and recent educational policies by the government.
Marwari Catalysts is contributing its bit by backing up such strong Ed-Tech Startups that can bring this vision to action.
With a stronghold in the Ed-Tech sector, Marwari Catalysts also announced a virtual startup accelerator program, "Thrive" to help new and upcoming startups in the Ed-Tech space.
MCATs received a great response with over 300 applications out of which six startups are selected for its intensive 12-week program. The results of which are to be announced soon in the coming week.
"Even though the Ed-Tech revolution in India is accelerating at a rapid pace, the mass consumer is still relatively untouched by the transformation that it can deliver. We aim to change that by supporting startups that can aid the development of education in tier-2, tier-3 cities, semi-urban, and rural India. Also, mergers and acquisitions are expected to continue in Ed-Tech startups as investors expect that the covid-19 crisis will create a permanent change in how people access education. Today, this news of acquisition is also a vote of confidence further motivating us to keep raising the bar even higher by backing more of these relevant brands in the education sector," said Sushil Sharma the Founder and CEO of Marwari Catalyst about the acquisition.
"After numerous ups and downs, our journey has led us into becoming India's fastest-growing ecosystem player in India. We have incubated over 150 startups and have a stake in over 30 startups, at the moment. We believe in this new generation of innovation and are ready to support the startups with good leadership and a planned layout. Our team comprises people with a collective fundraiser of over 75 million dollars and exits of a staggering 500 million dollars! Over the years of constant development at MCATs, we have had a rich culmination of professional experience working with the world's 39 top corporates. MCATs is an idea of a company that is believed and backed by our numerous stakeholders that include 10+ startups, 15+ Chartered Accountants, 7 IIT graduates, 5 IIM graduates and investors from the US at Silicon Valley, UK, Muscat, Abu Dhabi, India, and many more! We are delighted by the trust these investors have vested in us and that's what keeps us working harder to keep that bond and trust intact," he added.
"The education industry has garnered a lot of attention lately making the Ed-Tech market extremely conducive for all kinds of deals such as mergers & acquisitions, joint ventures, new start-ups, etc. The presence of multiple players offering unique propositions is thereby opening doors of possibilities for more collaborative synergies. We are delighted with this news of the acquisition and have full faith in both the team's long-term vision and growth potential," added Ajay Revalia, the Founder and CEO of Noises Learning.
60 per cent of India's population lives in tier-2, tier-3 cities, semi-urban, and rural areas, and yet the current ecosystem for holistic education development is largely focused around the metropolitan and tier-1 markets.
Marwari Catalysts aims to disrupt that paradigm by supporting Ed-Tech startups catering to the educational needs of mass consumers across the country.
"Increase in digitization, the start-up ecosystem continuously innovating to provide new services, the ever-evolving consumer base, and the COVID-19 situation has given the Ed-Tech sector a huge boost in India. No sooner, we can expect India to become the centre of global Ed-Tech, writing a bigger story than e-commerce, in a way last seen in the IT boom of the 90s that made education so lucrative," said Devesh Rakhecha, the Co-Founder of Marwari Catalyst, while wrapping up the session.
Marwari Catalysts Ventures is thus all prepped up in building an efficient startup ecosystem that has been rising to every challenge and is playing a pivotal role in enabling start-ups across geographies and industries to realize their vision seamlessly.
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