India’s leading education startup venture BYJU’s has raised $150 million in the financing round led by Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar. Famous Americal Investor in education tech startup Owl Ventures was part of the fundraising. This is the first time Owl ventures being a part of fundraising in India.
“This investment underscores QIA’s strong commitment to the education sector and our focus on investing in leading innovators in the TMT industry globally,” QIA CEO Mansoor Al-Mahmoud said.
The unicorn startup BYJU’s had already planned to expand its presence in the U.S, U.K, Australia, and New Zealand. This will be an unparallel time for the venture to spread the app globally.
Byju Ravindran, the founder of BYJU’s started the firm as an offline learning center in 2008 and later launched BYJU’s app in 2015. Since 2015, the firm's journey has been rapid by beating all the competitors and maintaining the first position in EdTech business. The unacademic learning system has become the favorite platform for the students up to 12th standard in India. Plus it set up to assist in major competitive exams in India.
India is one of the countries with a higher number of schools, and BYJU’s is running as an alternative space that helps the students to understand complicated subjects.
As the popularity increases with incredible speed, BYJU’s has made a profit of $205 million in the fiscal year that ended in March. The founder aims to increase the figure to over $430 this year. The company, in May, had announced that it had tripled its revenue.
In last March, BYJU’s had bought USA based education startup Osmo for $120 million. Also, the company tied-up with Disney and developed Disney BYJU’s Early Learn App. This app meant for the students for grades 1 to 3. The firm has raised around $925 million to date.
“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,” Byju Raveendran said.
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