UAE-based Foundation Holdings to invest $42m in India’s edtech firm Toppr

UAE-based investment firm Foundation Holdings is to invest $42m in Indian-based edtech platform Toppr Technologies. The investment comes as Covid-19 disrupts traditional classroom learning in favour of digital offerings.

The investment will help enhance the AI-based Toppr School Operating System which integrates in-school and after-school learning.

Founded in 2013, Toppr provides a K-12 syllabus with thousands of course combinations. The company says its AI edtech platform currently boasts more than 10.3 million learners and enables the students to prepare for various school, board, and competitive exams through leveraging Natural Language Processing.

The platform integrates artificial intelligence, machine learning, and big data to study student behaviours and create adaptive learning paths with various combinations.

Read: Saudi education platform raises more funds as schools go online

Toppr offers a basic version for free with the premium version unlocking wider platform access and additional offerings.

“The Covid-19 pandemic-led lockdowns have turned the spotlight on edtech and the potential power the sector can unleash. We believe that an omnichannel, blended learning model is the future of education in the region and beyond,” said Abhishek Sharma, CEO of Foundation Holdings.

“We hope to further elevate Toppr’s brand equity to eventually make it IPO ready and facilitate its listing on the Nasdaq or any similar international stock exchange,” he added.

Foundation Holdings and Toppr intend to bring the platform to the GCC.

The GCC region is home to around 10 million learners in the K-12 segment with an additional two million learners to be added by 2025. Saudi Arabia alone constitutes over 70 per cent of regional demand.

According to a recent report by Boston Consulting Group, the K-12 market is expected to double over the next three years, from $13bn to $26bn by 2023.

Another study by EdTechXGlobal estimates the global edtech market will reach $252bn by the end of this year.