Scaler, an upskilling startup backed by Sequoia Capital and Tiger Global, has announced the acquisition of Delhi-based online learning platform Coding Elements in an all-cash deal. This marks the edtech startup's first acquisition to accelerate business growth. Scaler has also set aside a sizeable fund of 50 crores to explore other avenues of M&As.
Coding Elements was started in 2017 by Mudit Goel with a vision to create the next generation of coders by training them with the latest in-demand tech skills such as Data Science, Machine Learning, and Full-Stack Web & Mobile App development.
As a strategic move, Coding Elements has been merged with Scaler, and Mudit Goel has joined the startup as the Strategy and Product Lead. In his role, Mudit will build the Data Science and Machine Learning vertical, a high-growth segment, and will also play a key role in deepening Scaler's relationship with industry partners.
Announcing the acquisition, Abhimanyu Saxena, Co-founder, Scaler & InterviewBit, Said, "This acquisition will enable us to further strengthen our upskilling platform by expanding our course offerings beyond core software engineering. The acquisition is another step towards accelerating our growth and making Scaler a world-class virtual tech university. Further, we continue to assess and evaluate potential M&A opportunities in the segment that matches Scaler's vision and mission".
Mudit Goel, Founder, Coding Elements Said, "Coding Elements was started in 2017 with just 3 students in the first batch as an experiment to understand how high-quality education can help improve the lives of families. Within 4 years, we reached 2 million students across 6,000 schools and saw how education can uplift an entire economy. I'm happy to have joined hands with Scaler, which is also on the same mission and am excited to be a part of one of the most dynamic teams in the edtech sector. This strategic merger with Scaler is truly a satisfying moment as it makes our journey bigger and better."