Reliance invests INR 500 crore in edtech startup, Embibe

Reliance Industries chief Mukesh Ambani is investing INR 500 crore in an edtech venture, Embibe. The company had acquired it in April 2018 for INR 100 crore.

Embibe is an artificial intelligence (AI) powered e-learning platform that was founded by Aditi Awasthi in 2012. Reliance acquired 73% of its stake in April 2018. With the lockdown and Covid-19 pandemic, e-learning platforms are on a rise. Tech professionals working from home are signing up for online courses to learn new skills.

Embibe has carved itself a niche among the growing e-learning market. The platform offers test preparation for engineering, medical, and railway entrance exams. It also offers coaching programs for students from Class VIII. Also, it has acquired smaller players in the last two years. It acquired OnlineTyari in February 2020, and another competitor Funtoot in December 2019.

With the schools remaining shut due to lockdown, e-learning platforms are on a rise. Byju’s has reported 6 million new students since it announced a free classroom program last month. Byju’s valuation has crossed $8 billion this year. Facebook-supported Unacademy has reported 1 billion e-learning minutes spent by students in March.