Byju’s, India’s largest education technology company, said on Tuesday that it has acquired Bengaluru-based math learning platform Math Adventures for an undisclosed amount. The acquisition is expected to help develop Byju’s preschool learning programmes.
Math Adventures, an e-learning startup, helps children learn through a combination of short videos and an activity-based approach using interactive methods. “Math Adventures’ activities will help us with our K-3 product development. The founder comes with a strong math background along with a research and development background in math activities. This partnership will help us further develop and create engaging learning programmes for lower grade students,” said Byju Raveendran, founder and CEO, Byju’s, adding that the Math Adventures team will now be a part of the content and research and development team at Byju’s. Raveendran, a mechanical engineer by training, was featured on Fortune India’s latest 40under40 achievers list.
At the heart of this education startup is Byju’s learning app launched in 2015. It uses original content, engaging video lessons, and interactive activities to personalise learning for each student. Bengaluru-based Byju’s popular personalised mobile-learning app offers study material for school students and competitive exam candidates. The company claims that its business has been growing consistently at 100% annually for the last three years. Byju’s has seen 20% month-on-month growth crossing Rs 120 crore in revenue in June, the company said in a statement, adding that it aims to cross Rs 1,400 crore in revenue this year. At present Byju’s has 22 million registered users and 1.4 million annual paid subscribers.
So far, Byju’s has raised about $240 million from leading investors such as Sequoia Capital, Aarin Capital, Sofina, Lightspeed Venture Partners, International Finance Corp, Tencent, and The Chan Zuckerberg Initiative—Mark Zuckerberg and his wife Priscilla Chan’s investment arm. In its last funding round, Byju’s raised about $40 million from Chinese Internet conglomerate Tencent Holdings, at a valuation believed to be around $800 million. It is one of the top 10 most-funded online education startups globally.