Byju’s the learning app has raised $400 million this year in a few months. They have been in a fundraising mode since the start of 2020 and have already secured funding worth $500 million from investors in the year end of 2019.
DST Global, the venture capital fund backed by Israeli-Russian billionaire Yuri Milner, is in looking forward to invest around $400 million in online Education application Byju’s, reported by their official website and later confirmed by Bloomberg.
Bengaluru-based Byju’s will look into raising an additional $200 million from existing investors apart from Yuri Milner in the ongoing round, said one of the internal associate aware of the fundraising fiasco.
What is the BYJU’s app a start-up for?
Byju’s is India’s largest Ed-Tech Learning start-up. Their idea is to refurbish how students learn and transform learning into fun by their e-learning classes and recorded videos.
BYJU’s Classes is named after it’s young co-founder Byju Raveendran, who is a two times CAT 100 percentile holder and India’s No.1 MBA entrance trainer, having sent 1700+ students to the IIMs in last three years alone. In a short period of it’s existence, BYJU’s Classes became the No.1 choice for students.
Byju’s classes offer preparation training for different competitive and entrance examinations. It is now India’s leading provider of school curriculum classes for classes 6-12 and test preparation training for CAT, JEE, IAS, GMAT and GRE. They focus on high quality, engaging and accessible education with fun indulging sessions. Their core focus is on concept clarity which makes the students feel like they are learning more than what they learn in schools.
They handpick their trainers and teachers from all over India and use copyrighted teaching techniques to make learning fun and effective for the learners. Their team of teachers uses world-class high-definition technology to deliver the best of education to young people, preparing them for their bright future.
What Made Byju’s the World’s Most Valued Ed-Tech Brand?
According to a Mobile Tech report, more than 89% of users are paying for education apps in India amid the Corona virus lockdown state of affairs.
Educational online Apps have taken the educational market by storm, taking advantage of the social distancing situation all over the world. Realising the growth potential of educational apps, many Ed-tech start-ups have emerged in India.
One of the most valued Edu-Tech Start-up, Byju’s, has been riding high on the growing demand of educational technology in India.
Heavy funding: the secret of a successful start-up?
21 May, 2019-
Edtech platform BYJU’s raised Rs.214 crore from investors of the New York-headquartered equity firm General Atlantic and Chinese conglomerate Tencent, as per the filings of the Registrar of Companies (ROC). The company is now valued at over $5 billion, and is one of the most-valued start-ups in India and soon around the Globe.
The founders plans to utilise the proceeds on international expansion, said media reports. BYJU’S has so far raised $795.5 million. Some of the prominent investors include Sequoia Capital, Sofina, Naspers, Chan Zuckerberg Initiative, and Aarin Capital.
10 January, 2020-
New York-based Tiger Global Management has invested $200 million in education app Byju’s, projecting the Bengaluru based company at about $8 billion.
Byju’s had raised about $971 million funding according to data collected by industry tracker Tracxn.
15 February, 2020-
Byju’s Latest Funding Gives 7X Returns to Facebook Ceo Mark Zuckerberg’s Investment. This deal is reported to have given hefty returns to Sequoia, Times Internet and other previous investors.
Byju’s reportedly has 42 Million registered users and 3 Million paid subscribed students.
2 May, 2020-
Byju’s, an education learning start-up in India that has seen a surge in its popularity in recent weeks amid the coronavirus outbreak, is in talks to raise as much as $400 million capital at a $10 billion valuation, said three people familiar with the matters of fundraising.
The excess capital would be part of the start-up’s ongoing financing projects that has already seen Tiger Global and General Atlantic invest between $300 million to $350 million into this nine-year-old e-learning application
Byju’s was valued at $5.75 billion in July last year, when it raised $150 million from Qatar Investment Authority and Owl Ventures.
30 June, 2020-
Byju’s is now a decade old unicorn with the latest investment from Mary Meeker’s BOND
Byju’s valuation soars to $10.5 billion. Edtech start-up has raised an undisclosed amount of fund from BOND-the global technology investment fund.
5th August, 2020-
DST Global, the investment firm handled by billionaire Yuri Milner, is about to invest as much as $400 million in Indian online education start-up Byju’s, according to a person familiar with the negotiations.
Business marketing investment strategy: Bollywood super-star endorsement.
Byju’s journey started in 2015, but it reached every Indian household after they got Bollywood Superstar, Shah Rukh Khan on board as their brand ambassador and endorser. The main motive behind this well strategized partnership with Shah Rukh Khan was to increase their popularity and create a deeper connection across Indians and Global audience.
Byju’s invested onto his wide charming appeal and successful influence on parents and students-an actor having stardom in all generations alike. His unique, relatable, versatile and witty acting skills acted as a promoter of their success story.
Parents want online learning to continue even after schools reopen.
Schools and colleges in India have been shut down for the past five months and online classrooms have become the new normal. As discussions about the reopening of schools began, a survey by ed-tech unicorn Byju’s portrayed that parents who were previously suspicious are now in support of online education and want it to continue like this even after the lockdown relaxes.
According to their survey 75% of the parents and students think that they are more comfortable with online learning and lectures.
“There has been a huge mind-set change in the way all stakeholder – parents, teachers, and students are perceiving online learning. It has moved from a ‘good to have’ thought to a must-have. Online learning was the only thing they could turn to during the lockdown,” said Divya Gokulnath, co-founder of Byju’s as mentioned on their official website.
What will be the way forward for Digital Indian start-ups?
Today, technologyhas become the primary mode of entertainment and information consumption for the young generation and older generation. They use technology, smartphones, tablets, and computers while being stuck in their homes. There are many problems that entrepreneurs look at solving in this digital era.
Most of the employees especially experienced teachers are not digitally empowered and struggle to adapt technology, hesitate to use it, but don’t want to seem inefficient. More institutions are opening up to the idea of inculcating a mixed form of learning that uses both offline and online classrooms. Re-skilling and up-skilling are now the new thing.
BYJU’S has proved to be a pioneer in the Made in India online start-ups, with their digital strategies and remarkable quality of service. Apart from contributing to the Economy and Education sector of our nation, it paves way for new start-ups and young entrepreneurs. Global investors have also started to gain interest in Indian unicorns due to the previous records of such start-ups.
Besides going global, Byju’s is also planning to buy existing Educational companies in other countries and will going public in two or three years depending on it’s technological advancements.
It is working on launching its pre-school package that will cater to students needs in first to third grades. The company’s ownership of Math Adventures earlier this year is considered to be a strong step towards it’s pre-school educational section on their Byju’s app.