Byju Raveendran initiated the leading Ed tech company BYJU’s in the month of November 2011. This education startup firm, which is owned by Think and Learn Pvt. Ltd is said to have raised an undisclosed fund from the International Finance Corporation (IFC) of the World Bank. The company also raised a personal fund of $50 million in the month of September 2016, which was set up by the co-founder of Facebook, Mark Zuckerberg along with his wife, Priscilla Chan.
The regional head of the venture capital investments in the International Finance Corporation, IFC, Ruchira Shukla stated, “Education is one of the critical sectors for the IFC. The International Finance Corporation’s venture capital plan in the education technology field space focusses on to the technology-driven learning platforms for the skill development, academic improvement platforms as well as the supplemental and the solutions for low-cost education.”
Byju’s has also raised 9 million USD from the Aarin Capital in the year 2013, followed by a Series B funding of about 25 million USD from the Sequoia Capital in the last year and also 75 million USD fund from the Sequoia Capital and the Sofina earlier this year.
Byju Raveendran, The CEO and Founder of Byju’s, stated, “The investment from the International Finance Corporation accepts our commitment to creating the world-class learning programs in making education more accessible to the students across the geographies. Today, almost 70% of the users come from mostly outside the top 10 cities in India.”
The company has seen an impeccable growth for providing quality e-learning and online educational concepts that answer and solve the learning problems for the students of different classes. The launch of the app Byju’s -The Learning App has made a remarkable progress by making millions of students fall in love with the learning from over past few years.
Byju’s is the India’s leading online education company offering various learning programs by India’s best teachers for the students of Classes VI up till XII. It also provides preparation programs for the competitive as well as the civil services examinations such as the JEE, IAS, CAT, GRE and GMAT Exam, much more.
The company started first in small scale markets as an offline test preparation provider in the year 2011 for various exams such as CAT, GMAT, GRE and other competitive examinations. Later it expanded its vision into coaching centers for the school students. At present, it is also well known for organizing large sessions and programs in the stadium. The company got its turning point, after the introduction of the learning application. Soon after the launch of the app, at about six months later, the app got about 2.5 million downloads and about 1,20,000 annually paid subscribers.
Byju’s now has plans to explore its business model and app-based learning programs into the global sectors, in the UK and the US. It also intends to introduce some other new subjects into the education field going beyond the subjects physics, biology, chemistry, mathematics along with some of the other products for the Class IV and Class V.
Byju’s – The Learning App
The learning app offers various online learning lecture videos to the students in an engaging manner. The app is well incorporated with JEE, Med, GMAT, CAT, IAS Exam, GRE, CBSE, NCERT preparation videos along with the tablet learning applications and programs for the JEE, Med, CAT, K – 12, IAS, etc.
The learning app offers many remarkable features, concepts, learning ideas to the students to study and learn in an engaging interactive way with the engaging video concepts and formats. It also points to different system of ideas like:
- Engaging learning concepts in video formats as well as lessons taught by the best teachers and trainers of India.
- Adaptive test training and preparation kits as well as modules like CBSE sample papers, NCERT Books for a personalized understanding of learning case.
- The Chapter-wise Practice Tests have detailed analysis and feedback.
- The app also has rich animated videos for learning, watch and learn videos, directed by motion graphics, data sciences, contextual contents, thus making the process of learning an evident and contextual one rather than it being theoretical.