BENGALURU: BYJU’S, has announced that it has received an investment of $150 million led by Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar. This round also includes the participation from Owl Ventures, a leading investor in education technology and this is their first-ever investment in an Indian startup.
This new round will support BYJU’S’ aggressive plans of international market expansion and the creation of world-class learning products for students across the globe. This first-ever primary investment from QIA and Owl Ventures in India will aim at boosting innovation in the tech-enabled learning space.
Byju Raveendran, Founder & CEO, BYJU’S – The Learning App, in a statement said, “Investment from prominent sovereign and pension funds validates our strong business fundamentals. Indian ed-tech firms attracting interest from eminent investors demonstrates that India is pioneering the digital learning space globally. High adoption and 85% annual renewal from small towns and cities shows the increasing acceptance of digital learning as a primary tool for learning at home. This partnership will support and strengthen our vision of creating and delivering personalised learning experiences to students. This will help us explore and leverage our expertise in creating immersive tech-enabled learning programs for students in smaller cities, regions and newer markets.”
“This investment underscores QIA’s strong commitment to the education sector and our focus on investing in leading innovators in the TMT industry globally,” said Mansoor Al-Mahmoud, CEO of QIA, in a statement.
In a statement, Amit Patel, Managing Director, Owl Ventures, said, “With the world’s largest school-age population of 260 million, India’s education sector is at an inflection point. BYJU’S has been at the forefront of providing quality auxiliary education to new-age learners. This new partnership with BYJU’S reinforces our commitment to creating the best and most unique learning journeys for every student.”
[“source=economictimes.indiatimes”]