Education technology platform Byju’s has acquired Bengaluru-based math learning startup Math Adventures for an undisclosed amount. “Math Adventures’ activities will help us with our K-3 product development,” Byju Raveendran, CEO of Byju’s, told The Economic Times, which first reported the acquisition. “The founder comes with a strong math background and also a research and development background in math activities. The team will now be a part of the content and R&D team.”
Math Adventures provides learning through videos and activities, it has partnered with schools to provide learning modules for pre-school children up to the eight standard. Primarily based in Bengaluru, the firm has expanded to smaller towns like Mysuru, Tezpur and Jodhpur. With the new acquisiton, Byju’s wants to build a product for primary school children enrolled in Clases 1-3. Post the acquisition, the Math Adventures team will join the research and development team of Byjus.
Launched in 2015, Byju’s provides personalized learning courses and programmes for students from 4th to 12th standard, and learning content for competitive exams like GMAT, CAT, GRE, IAS, NEET among others. It claimes to have over 21 million registered students and 1.26 million annual paid subscriptions, spread out in 1700 cities, also claiming the average time spent by one student on their website to be close to an hour.
- Byjus acquired two startups in the same month that it secured funding from Tencent. In July 2017, it acquired two education tech startups — global education company Pearson Plc’s online tutoring provider Tutorvista, and e-learning content company Edurite.
- Earlier in January 2017, it acquired Bangalore-based Vidyartha, a data-driven platform which offers customized learning to students
- In July 2017, it raised an undisclosed amount of funding from Chinese Internet conglomerate Tencent Holdings, one report pegged the size of the investment at $35 million at a valuation of $776 million.
- Just four months before Tencent invested in Byjus, it had raised an undisclosed amount of funding from Verlinvest, an investment firm based in Belgium.
- In December 2016, the company raised close to $15 million from the International Finance Corporation, an investment arm of the World Bank.
- In September 2016, Byju’s raised a $50 million round led by the Chan Zuckerberg Initiative — the philanthropic fund of Facebook CEO Mark Zuckerberg and his wife Priscilla Chan. Other investors included Sequoia, Sofina, Lightspeed Ventures & Times Internet.
- In March 2016, the company secured $75 million from Sequoia Capital and Sofina for expanding its product line.