Edtech Company BYJU’S Buys US-based educational games maker Osmo for $120 Mn

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Byju’s (Think & Learn Pvt. Ltd) has acquired Osmo, a maker of educational games, for $120 million in its first-ever purchase of a US company. 

Bengaluru, 17 Jan, 2019. RedNewswire/-

Osmo was founded in 2013 by two former Google engineers, Pramod sharma & Jerome Scholler. California-based Osmo has about 60 employees, uses augmented reality and artificial intelligence to bring physical toys into the digital world.

It allows any object like pen & paper, blocks or toys to interact with an iPad, iPhone or Amazon Fire camera. Its backers include Accel Partners and Mattel Inc. with the start-up so far attracting more than 1 million US households.

The acquisition will help Byju’s offer learning solutions to children aged between three and eight by tapping into Osmo’s physical-to-digital technology and content.

Prior to its acquisition, Osmo had raised $32.5 million in outside funding, the last of which arrived in a $18 million Series B round. Mattel, Accel, and Upfront Ventures, among others, are investors in Osmo. The company will continue operating as a separate brand of hardware and software products after the transaction is complete, according to a statement from the company.

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“Osmo makes learning more effective and engaging, which is very important with younger children,” Byju Raveendran, Byju’s founder and chief executive officer, said by phone. “It takes us into a new age demographic of younger kids as well as fitting into our plans for a bold global expansion.”

“Our partnership with Osmo will help kids acquire love for learning at an early age by introducing ‘play-based learning’. Together with Osmo, we have the critical elements needed to build an unprecedented library of engaging and entertaining educational content for a global pre-K-12 student audience,” Raveendran said in a statement.

“We started Osmo for parents looking for a way to combine physical, hands-on play with the power of digital platforms to foster a love of learning,” Osmo co-founder and chief executive Sharma said.

Osmo CEO Pramod Sharma, who founded the start-up with Jerome Scholler, will both remain with the company.

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