The funding comes from Sequoia Capital and Belgium-based Sofina, which is also an investor in Flipkart
This is the largest ever funding round by an Indian edtech startup till date.
The funding will allow the startup to deliver content in a new format, aggressively expand its product pipeline, launch into new markets, and hire people.
Founded by Byju Raveendran in 2011, Byju’s offers learning programmes that are effective and engaging for class 6-12 and test preparations.
Byju’s learning approach combines teachers, proven pedagogical methods, data sciences and Machine Learning to deliver personalised instruction, feedback and assessment for each student.
The app makes use of original content, watch-and-learn videos, rich animations and interactive simulations that, as opposed to rote memorisation, make learning contextual and visual. It can adapt to the unique learning style of each student, inviting them to explore different concepts and suggest a learning footprint for the student that can also address any gaps in learning.
Since its launch six months ago, the app has clocked 2.5 million downloads and more than 120,000 paid annual subscribers, claims the firm.
The startup has a 500-member strong R&D team working closely together across three specialised verticals: content creation team, skilled media production house and technology team.
“India has the largest K12 education system in the world, but we consistently rank low in all global assessments. We started Byju’s as a mission to address these learning gaps — to make learning fun and engaging by making it contextual, visual and not just theoretical. Learning is currently driven by the fear of exams, and not the love for learning. We are excited to see the popularity of the app among students and the way it has made them fall in love with learning,” said Raveendran.
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