Byju’s, India’s most-funded educational technology platform edtech startup, is freshly supported by a $150 million investment to expand its market in the country and in the international markets.
The startup has been sailing for more than a decade now and has inspired 35 million registered students and 2.4 million paid subscriptions. This justifies the company’s claim that they provide the most preferred educational platform across the globe.
The process of the ongoing financing was piloted by the Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, and special participation from Owl Ventures, a venture capital fund that invests in the world’s leading education technology companies. This support became Owl Venture’s first investment in an Indian startup.
The 11-year-old startup, that raised around $925 million and had a $4 billion valuation in December on 2018, aims to use the new capital to put effort into exploring and expand in international markets. Previously, the startup has planned to enter the U.S. and UK, Australia, and New Zealand.
Not just investments but also acquisition, when the company gained Osmo, a learning startup founded in the U.S. that is a hit to kids aged five up to 12 for $120 million early this year. Recently, Osmo launched a new product to serve the pre-schoolers market.
Byju’s aims to help children understand complex topics through its provided application where tutors use realia, the use of real-life objects. It also tackles students who are taking graduate and graduate level courses.
“Investment from prominent sovereign and pension funds validates our strong business fundamentals. Indian ed-tech firms attracting interest from eminent investors demonstrates that India is pioneering the digital learning space globally,” founder and CEO of Byju’s, Byju Raveendran said in a statement.
In the year 2017, India has the largest population in the world having more than 1.33 Billion aging 5 to 24 years. That opened a huge market for this platform. Byju’s made a $205 million revenue in March. It aims to increase it to over $430 million this year, 2019. Raveendran stated that the startup will open its doors to go worldwide in the upcoming two to three years.