Tag: Byjus

BlackRock, Sands Capital Lead $300-Million Investment in Byju’s

The BYJU'S learning app.

Photographer: Dhiraj Singh/Bloomberg

India’s online education startup Byju’s raised funding from BlackRock Inc., Sands Capital and Alkeon Capital, as the company expands to meet growing demand for its services.

The round totaled about $300 million and values Byju’s at about $11 billion, according to a person familiar with the matter. Existing backers Tiger Global, General Atlantic and Owl Ventures also invested, the company said, while private equity giant Silver Lake put money into the startup earlier this month.

Byju Operations And Interview With The Edu-tech Startup CEO Byju Raveendran

Photographer: Dhiraj Singh/Bloomberg

Investors are increasing support for India’s edtech startups as the country’s pandemic challenge spreads and closes schools. Byju’s was founded by Byju Raveendran, a former teacher and son of educators, who conceived the smartphone app in 2011.

Read more: Billionaire Milner Nears $400 Million Funding in Byju’s

The company, whose investors also include Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative, caters to students from kindergarten through

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Edtech Giant Byju’s Acquires Virtual Lab Simulation Platform LabInApp

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Edtech unicorn Byju’s acquired a lab-like virtual simulation platform LabInApp on Thursday. According to media reports, the deal amount has not been disclosed.

Founded in 2015, by Pavan Shinde, Girish Shirigannavar, Pramod Ramdurg and Vinayak Hulabatti, the startup offers science-lab simulation on smartphones and desktops. More than 5,000 schools across India leverage the startup’s solution. The app offers a 3D interactive platform which encompasses computer graphics and artificial intelligence for better learning and understanding. The app currently follows NCERT syllabus from Class 6 to 12.

The latest acquisition will provide a complete exit to Unitus Ventures. The venture capital has invested in the firm in 2015-16 along with Sylvant and Sandeep Maheshwari as angel investors.

“Acquisition of LabInApp by Byju’s

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