Ed-tech startup “BYJU’S” raises $50M funding from Chan Zuckerberg Initiative & others

Today BYJU's has become India’s largest Education Technology company, that is reinventing how students learn, through its learning app.

Bangalore - Sept 10, 2016. RedNewswire/-

Education-tech start up Byju’s has raised $50mn funding led by Chan Zuckerberg Initiative (CZI) and existing investors Sequoia Capital, Belgian investment firm Sofina SA, Lightspeed Venture Partners and Times Internet Ltd.

BYJU’s Learning App makes use of original content, watch-and-learn videos, rich animations and interactive simulations that, as opposed to rote memorization, make learning contextual and visual, not just theoretical.

This is the first Asian investment from the Chan Zuckerberg Initiative, the philanthropic arm created by Facebook founder Mark Zuckerberg and his wife Priscilla Chan in 2015.

The company will use the fund to expand internationally and additional funding investments from leading companies around the world.

Byju’s Founder & CEO, Byju Raveendran said “We are excited to partner with the Chan Zuckerberg Initiative to usher in the next stage of growth at Byju’s. Our vision closely aligns with their vision of advancing human potential and promoting equality."

Byju’s learning app offers learning programs for students in classes 6-12 and competitive exams like IAS, NEET, JEE, CAT, GRE and GMAT.

Source:PTI

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