Naspers announced it has led a $540 million investment in BYJU’S, the creator of the most popular K-12 learning app in India.
The company said the investment will drive BYJU’S development of tech learning products, with the startup planning to expand into international markets.
BYJU’S Learning App offers personalised learning programmes for school students in 4th-12th grades in India, merging videos, teaching, and interactive lessons.
The app has been used by more than 30 million students, wth over million cumulative annual paid subscriptions.
Speaking about the investment, BYJU’S CEO Byju Raveendran said the partnership will greatly improve the company’s ability to expand its operations globally.
“While near-term profitability is important for us, as a company our main focus continues to be on long-term sustainable growth,” Raveendran said.
Naspers Ventures head of international investments Russell Dreisenstock said the company sees great potential for the edtech industry in India.
“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 Dreisenstock.
“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.”