IPO-bound upskilling startup Imarticus Learning has acquired Bengaluru-based edtech platform MyCaptain for nearly $5.8 million, while the competition regulator has cleared the acquisition of B2B e-commerce platform Solv by Jumbotail Technologies.
Imarticus Learning acquires MyCaptain
IPO-bound upskilling startup Imarticus Learning, on Thursday, announced that it has acquired Bengaluru-based edtech platform MyCaptain for nearly $5.84 million (Rs 50 crore).
With this, Imarticus Learning has marked its fourth acquisition in four years. The strategic move is a part of Imarticus Learning’s goal to reach 5 million learners over the next three years and expand to tier 2 and tier 3 cities.
MyCaptain equips college students, recent graduates, and early-stage professionals with skills and job opportunities in emerging, non-technical career paths. The platform reports having over 500,000 learners and achieved Rs 27 crore in revenue last year, reaching EBITDA breakeven.
This acquisition brings Imarticus into the college skilling space through MyCaptain’s 60+ live, cohort-based programmes focused on emerging career fields. With the acquisition, Imarticus’s team will grow to over 850 people.
CCI clears Jumbotail’s acquisition of Solv
The Competition Commission of India has cleared the acquisition of B2B e-commerce platform Solv by Bengaluru-based Jumbotail Technologies.
Solv, which is an online B2B platform facilitating MSMEs to sell their products to retailers and other businesses, is operated by SCRTIPL (Standard Chartered Research and Technology India Pvt Ltd).
“The proposed combination pertains to the acquisition of 100 per cent in SCRTIPL (Standard Chartered Research and Technology India Pvt Ltd) by JTPL (Jumbotail Technologies Pvt Ltd),” CCI said in a release.
In March, SC Ventures, Standard Chartered’s investment arm, agreed to sell Solv India to Jumbotail. As part of the deal, Jumbotail will issue certain shares to SC Ventures and Solv India, while SCV Master and Artal Asia will subscribe to specific shares in Jumbotail.
“CCI approves proposed combination involving, inter alia, Jumbotail Technologies Pvt Ltd, Standard Chartered Research and Technology India Pvt Ltd, Solv-India Pte Ltd, SCV Master Holding Company Pte Ltd, Artal Asia Pte Ltd. and founders of JTPL,” CCI said in a post on X.
