Naspers, a global internet and entertainment group head quatered in South Africa announced it has led a combination primary and secondary US$540 million investment in BYJU’S, the creator of K-12 learning app in India.
The investment will drive the BYJU’S team to further innovate, explore and set new benchmarks for tech-enabled learning products. The company has plans for international market expansion and will make bold investments in technology that will help to further personalise learning for students.
BYJU’S founder Byju Raneendran. Source: DNA India
Talking about the new investment, Byju Raveendran, Founder & CEO, BYJU’S – The Learning App, said, “We are happy to have prominent and long-term partners like Naspers and CPPIB on board with us. This partnership will strengthen our ability to deliver on our vision to build the world’s largest education company. India has the largest population attending primary school in the world and Indian households are willing to invest a lot in their children’s education because a good education is viewed as the best path to success. I believe the importance of quality education amongst the entire population in India fueled our ability to create an engaging and high-impact learning app.”
Byju further added, “While near-term profitability is important for us, as a company our main focus continues to be on long-term sustainable growth. The edtech industry is undergoing massive shifts; students today want to learn through engaging and interactive methods. We are pioneering ‘better learning for tomorrow’ with technology as an enabler and we have been working towards making students active learners. It is only through active learning that we can prepare our youth for jobs of tomorrow.”
“Naspers partners with high-potential companies that are tackling big societal needs like education, which represents a significant sector ripe for disruption across the globe,” said Russell Dreisenstock, Head of International Investments, Naspers Ventures. Dreisenstock, who will be joining the BYJU’S Board of Directors further stated, “With the largest school-age population in the world and a growing middle-class with the willingness to commit significant resources towards quality education for their children, BYJU’S is perfectly positioned to provide an effective supplemental education solution for students across India. We partnered with BYJU’S because we believe the company’s success in India will translate across borders in any country where students are looking for an innovative and engaging form of education beyond the classroom.”