Emailed on Tuesday, December 18,2018
India’s most downloaded and famous learning app, the Byju’s-learning app for the class of 4 to 12 students bags its largest investment of Approx $540 million .
The new venture funds are raised from Naspers and Canada Pension Plan Investment Board (CPPIB) as per the reports.
The app was launched to increase its digital presence in 2015 and it quickly grossed in the download chart as its content is easy to understand and consume by K4-K12 students.
Byju’s app is the product of Think and Learn Pvt.ltd started by Byju Raveendran in 2011 as an offline tutoring platform in Bengaluru, India.
This Indian learning app has been downloaded by around 30 million users . The app is based on freemium business model, where most of the content unlocked after users purchase. it is approximately having 9-10 lakhs current paying customers.
The ed-tech startup is close to achieve INR 100 Crore in monthly revenue and its 15% revenue come from overseas user base.
Now, the unicorn startup Byjus’s is targeting the new market with new products in developing countries where English is given as a top priority.
The new investment will be used to target 3-5 grades students with English and Math’s classes.
Byju’s was the first Asian startup which was funded by “Chan Zuckerberg Initiative” (CZI). The Zuckerberg investment firm invested around $50 million in September 2016 in the startup.
Investors are pushing the market valuation to $3.5 Billion for this edtech startup and would be the 4th largest privately funded company after Paytm, Ola and OYO.
Indian Ed-tech Startups
Indian education systems, mostly run around the private coaching and Government institutions as it is easily available
To crack in the online Ed-tech space as a business is as difficult as facing any exam, where the team needs to collaborate with Schools, Colleges, Owners and convincing them, is another huge challenge for startup founders.
Byju’s approach is student first and there is no wall of such institutions to make decisions on behalf of the students. Students can choose to buy whatever package or subject they feel difficult for online learning and study with their own pace.
Many Global as well as Local Ed-tech startups failed due to “lack of product market fit, growth trajectories, revenue generations, lack of private funding and long term vision”.
Other top Ed-tech startups from India are Meritnation, Cuemath, Simplilearn, Toppr, and Unacademy where Byju’s is top in the list.
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