Bangalore based Edutech platform Byju’s raises $150 million investment from Owl Ventures, QIA.

Key Highlights

The online learning platform Byju’s has reportedly raised ₹150 million from the Qatar Investment Authority (QIA) which is Qatar’s sovereign wealth fund and Owl Ventures.

The investment raised will be utilized by the education platform to expand its market internationally and create learning products that are world class for its students around the world.

After having raised $540 million in March 2019, Byju’s went on to become the most valued Edutech firm in the world at a valuation of $5.4 billion.

The online learning platform Byju’s has reportedly raised ₹150 million from the Qatar Investment Authority (QIA) which is Qatar’s sovereign wealth fund and Owl Ventures. The company released a press release for the same today, confirming the investment. This is Owl ventures first investment in an Indian start-up. The company is a leading investor in the Edutech sector as well

The investment raised will be utilized by the education platform to expand its market internationally and create learning products that are world class for its students around the world.

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Byju Raveendran who is the CEO and the founder of the learning app released a statement saying this investment from esteemed pension and sovereign funds has validated their business fundamentals. The fact that India is pioneering in the Edutech space globally is demonstrated by these investments. More and more people from cities and small towns have been switching to digital learning platforms as the primary means for learning at home. Currently, the renewal rate for Byju’s is around 85%.

He further added that the company is happy to have strong partners like QIA and Owl ventures on board with them.

This partnership with Owl Ventures and QIA will help them come to a step closer to their vision of delivering personalized learning experiences to each student. The partnership will also help in creating better Edutech solutions for students hailing from small regions and cities.

About this investment, Mansoor -Al- Mahmoud, the CEO of QIA said this investment highlights the strong commitment QIA has towards the education sector and their high focus on investing in innovators in the global TMT industry. Apart from Byju’s, QIA has also invested in RMZ Corp, a real estate developer and Airtel. It also has a small stake in the e-commerce giant Flipkart.

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Further, Amit Patel who is the managing director of Owl ventures said that India has the world’s largest school-aged population of 260 million. The education sector in India is growing rapidly. Byju’s has always strived to provide education of high quality to the new age learners. Their partnership with Byju’s further solidifies their commitment to creating personalized journeys for each and every student.

This investment comes on heels of Byju’s raising investment from another foreign entity, the Canada Pension Plan Investment Board (CPPIB). This was also the first direct investment by the Canadian fund in an Indian start-up. After having raised $540 million in March 2019, Byju’s went on to become the most valued Edutech firm in the world at a valuation of $5.4 billion.

Byju’s turned out ₹1,430 crore in sales in 2019 and clocked a meagre profit. The company is now eyeing the US market for expansion. It is developing new products and setting up new infrastructure which will be targeted towards the audience in the US.

Byju’s also acquired Osmo which is headquartered in Palo-Alto in January in a $120 million deal. Osmo’s is an interactive learning platform and will be soon integrated into the US offerings planned by Byju’s.

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