VCCircle | March 2, 2022
YourNest Capital Advisors-funded edtech platform Practically on Wednesday said it has acquired enterprise resource planner (ERP) software Fedena, for an undisclosed capital.
Practically, operated by 3rdFlix Visual Effects Pvt Ltd, claimed that the buyout made it the world’s first edtech firm to offer an end-to-end product suite for schools.
The integrated product will offer schools with services like experiential learning content, innovative and collaborative teaching tools, easy-to-use administrative and support tools.
Fedena offers a platform for parent-teacher collaboration, fee management and online payment, grade books and reports, managing timetables, attendance and scheduling, online examinations, along with school management software such as admission, HR (human resource)-related operations, examination, event management and school identity card generation, among others.
“The acquisition has also strengthened Practically’s stature in the edtech ecosystem, and has increased its reach in the domestic and global markets, the company said. Fedena is present in as many as 18 countries, while Practically has operations in a few countries in the Middle East,” said the company’s Co-Founder and Chief Operating Officer (COO) Charu Noheria to VCCircle.
Noheria also said that Practically eyes to roll out operations in a few South East Asian countries soon.
The edtech firm also said that the acquisition will help it provide high-quality immersive content, simulations, games and its test-prep platform to schools globally by leveraging Fedena’s global presence.
“Fedena is a globally recognised solution provider that has helped educational institutes lower the cost of administration by integrating school management functions into a single easy-to-use software.
This move not only boosts our active user base but also gives us an immediate global reach, besides allowing us to offer our product and services to Fedena’s existing network of schools,” Noheria said.
Practically was founded by Subbarao Siddabattula, Charu Noheria, and Ilangovel Thulasimani in 2018. The platform uses interactive methods, such as augmented reality (AR), simulations and three-dimensional (3D) videos for teaching. It also claims to have reached a milestone of 1.5 million downloads.
The firm had raised $5 million in strategic investment ahead of its Series B funding round scheduled to begin early next year, from UAE-based NB Ventures, UK-based Earlsfield Capital, UAE-based Almoe Group of Companies and Ncubate Capital, an investment arm of the SAR Group, in December.
Noheria told VCCircle that the company is in the process of raising a ‘significantly large’ Series B round in the near term, without disclosing further details.
Link: YourNest Capital-backed Practically buys school management platform Fedena