Byju Scoops Out $50 Million From Mark Zuckerberg's Foundation, Sequoia Capital And Others
At a time when large cheque sizes have taken a backseat, Byju Raveendran’s company BYJU’s has managed to grab eyeballs of investors twice this year. The company, which secured $75 million in funding from marquee investors in March and recently startup announced that it has secured $50 million in a round co-led by Mark Zuckerberg’s and Priscilla Chan’s investment arm The Chan Zuckerberg Initiative (CZI) and Sequoia Capital, along with the other bunch of investors such as Sofina, Lightspeed Ventures, and Times Internet Ltd.
This round of funding will help the venture to fuel their international expansion. With this round of funding, it marks the first investment from the Chan Zuckerberg Initiative in Asia.
The startup makes the whole Learning process simple by using world- class technology. They provide an impactful learning experience to their students by combining education with technology.
The 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. Moreover, app adapts 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.
As per the official statement issued by the firm, Byju’s Learning App was witnessing a profit and a monthly growth of 15 per cent. If we talk about its revenue, in June 2016, the revenues for the startup stood at Rs 30 crore.
In a candid talk with Entrepreneur Media during Entrepreneur Convection 2016, Byju reveals what makes investors fund them, their expansion and growth plans.
(With inputs from Sneha Banerjee)