CAPE TOWN – Naspers on Monday announced that it had led a combination primary and secondary $540 million investment in BYJU’S, the creator of K-12 learning app in India.
A significant portion is also being contributed by the Canadian Pension Plan Investment Board (CPPIB). 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.
Launched in 2015, BYJU’S learning app is the leader in offering personalised learning programmes for school students in 4th-12th grades in India.
The learning app merges videos, interactives and teachers to bring concepts to life. It also adapts to the unique learning style of every student, adjusting to the pace and style of their learning.
More than 30 million students have used the BYJU’S learning app and it has amassed more than 2 million cumulative annual paid subscriptions, with an average engagement of 64 minutes per student daily.
Talking about the new investment, Byju Raveendran, founder and chief executive, 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.”
BUSINESS REPORT ONLINE