With the latest round of raising funds, India’s largest education technology (learning) company BYJU’s is all set to increase its subscriber base and further improve its already preferred services among the students and parents. The country’s largest K-12 learning app was launched in November 2011 and currently has over 5.5 million students on its platform. BYJU’s Learning app helps the students understand the complexities of various subjects through videos, rich animations, and interactive simulations.
The founder of biggest social media network and philanthropist Mark Zuckerberg, along with his wife Dr. Priscilla Chan had founded the Chan Zuckerberg Initiative (CZI) to extend support to the innovators in the education system. In this regard, the foundation has decided to fund BYJU’s in its attempt to revolutionise the learning process. BYJU’s has raised $50 million in the latest fund raising round co-led by CZI. This is also the first investment from the initiative in Asia.
Vivian Wu from the CZI would join the BYJU’s board. About the funding, Vivian said, “The Chan Zuckerberg Initiative supports innovative models of learning wherever they are around the world. Byju’s represents an opportunity to help even more students develop a love for learning and unlock their potential.”
Byju’s has, since its inception, boasted of its platform as the learning revolution and this is quite evident from the users’ satisfaction with the experience. With over 5.5 million downloads of the learning app, the app has over 2,50,000 paid subscribers and almost 90 percent of the users have renewed their subscription. The Company has a 500-member strong R&D team divided to address the three major components of the learning app. This includes a content creation team consisting of IIT and IIM graduates for curating the useful content, a skill media production house that transforms the content into interactive experiences and a technology team that deals with building the adaptive platform of the app for its users.
Mark Zuckerberg shared the details on Facebook and said he is excited towards the new journey. He shared, “As part of the Chan Zuckerberg Initiative, Priscilla and I are investing in an Indian education technology company we’re excited about called BYJU’s. BYJU’s was started by a teacher and entrepreneur named Byju Raveendran as a way to help students from different backgrounds across India learn in a way that works best for them. The mobile app uses a mix of video lessons and interactive tools to help teach subjects like math and science for a fraction of what other services cost. So far, BYJU’s has 250,000 subscribers who use the app for an average of 40 minutes a day — and it’s working. A survey found that almost 80 percent of parents said it improved their children’s learning dramatically.”
“I’m optimistic about personalized learning and the difference it can make for students everywhere. That’s why it’s a major focus of our education efforts, and why we’re looking forward to working with companies like BYJU’s to get these tools into the hands of more students and teachers around the world,” Mark shared in his post.
BYJU’s founder and CEO Byju Raveendran also shared the news and said, “We are excited to partner with the CZI to usher in the next stage of growth at BYJU’s. Our vision closely aligns with their vision of advancing human potential and promoting equality.” About BYJU’s, he said, “Once children fall in love with learning, they will start learning on their own. That’s why BYJU’s products are built in ways that inspire children to take initiative and learn on their own.”
With the fresh fund raising, BYJU’s plans to expand into global markets, especially in the U.S and UK. The management also plans to introduce new subjects beyond Physics, Chemistry, Biology, and Mathematics as well as launch new products for Classes IV and V.