Education technology startup Byju’s Learning has acquired Bangalore-based Vidyartha, a data-driven platform which offers customized learning to students. Byju’s said that it acquired the company to help its efforts to create highly personal learning experiences. The size of the deal was undisclosed but a Times of India report pegged the size of the deal at Rs 50 crore.
The report added that Vidyartha’s 20-member team will continue to work under a separate brand name post the acquisition. This is Byju’s first acquisition which has so far raised more than $155 million. In December, the company raised an undisclosed amount in funding from the International Finance Corporation (IFC), an investment arm of the World Bank.
Byju’s also raised $50 million funding from the Chan Zuckerberg Initiative (CZI), Sequoia Capital, Sofina, Lightspeed Ventures & Times Internet. At the time, Byju said that it would use the funding to expand internationally. It had previously also raised $75 million from Sequoia Capital and Sofina in March this year.
Vidyartha started as a career guidance platform for students which later started academic profiling of students by partnering with schools. Now, it offers a full-fledged assessment platform that goes beyond the report card of a student and assesses their interests, personality traits, aptitudes and skills through its proprietary assessments.
Currently, Byju’s claims that its mobile app has seen over 5.5 million downloads, and around 250,000 paid annual subscribers. Operating in India and the Middle East, it plans to expand to US, UK and other Commonwealth countries in the future. The company mentions that it has an average engagement rate of 40 minutes per day per user, with over 90% of users renewing their subscriptions.
The e-learning space in India has rapidly expanded in the last couple of years. From initiatives like Google’s Internet education program for rural women, to Amazon India’s Exam Central which lists solved papers and articles from academicians for entrance exams, the sector has seen a wide range of services being launched in this time. Indian edtech startups to raise funding in this period include Jigsaw Academy, CollegeDekho, S Chand, Smartivity Labs and Schoolguru among others.